JD.com Inc. JD,
It reported second-quarter earnings that fell on Monday, but exceeded expectations, while revenue rose above forecasts as China-based supply chain service and technology provider added more of 32 million new users, a quarterly record. Shares rose 2.0% in premarket trading, reversing slight previous declines. Net income fell to RMB 794.3 million ($ 123.02 million), or RMB 0.50 per US deposit receipt, from RMB 1645 million, or RMB 10.47 a share, in the period of the previous year. Excluding non-recurring items, ADS-adjusted revenues fell to RMB2.90 from RMB3.51, but were above the FactSet consensus of RMB2.60. Total revenue increased 26.2% to RMB 253.80 million ($ 39.31 million), to exceed the FactSet consensus of RMB 248.28 million, as net product revenue grew a 23.3% and net service revenue increased 49.2%. The annual accounts of active customers increased by 27.4%, to 531.9 million in the twelve months to 30 June. Shares, which have fallen 12.6% in the past three months to Friday, closed at a one-year low of $ 62.19 on Thursday. In comparison, the iShares MSCI China MCHI ETF,
has fallen 16.7% in the last three months, while the S&P 500 SPX,
has gained 6.9%.