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Revenue at JD.com up 52% in Q3
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JD.COM Inc, China’s second-largest e-commerce firm, said yesterday that third-quarter revenue rose 52 percent from a year ago, in line with expectations, as user numbers and orders grew at a rapid clip.
However, the results marked JD.com’s first quarter-on-quarter decline in revenue and its slowest annual growth rate in at least two and a half years.
Revenue growth could slow even further, as the ripples of China’s economic slowdown spread through domestic industries and begin to hit consumer’s wallets.
The firm forecast sales growth slowing even further in the final three months of the year. That is mirrored at larger rival Alibaba Group Holding Ltd, where the total value of goods being ordered shows a similar trend.
JD.com said it sees fourth-quarter revenue at 51-52.5 billion yuan (US$8-8.2 billion), or a growth rate of 47-51 percent.
JD.com targets online shoppers hunting for higher quality items as a growth driver.
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