JD’s winding road to profit keeps getting longer mak_robyn
China's JD.com on Feb. 28 reported revenue in the three months to December of 135 billion yuan , an increase of 22.4 percent from the same period last year.
Net loss for the quarter was 4.8 billion yuan, compared to 900 million yuan in the previous year. Excluding stock-based compensation and other one-offs, the company reported an adjusted net profit of 750 million yuan. In December, U.S. prosecutors decided not to charge JD.com's chief executive officer, Richard Liu, after he was accused of rape and arrested in the state of Minnesota.
Separately, the company also said in December that it will buy back up to $1 billion of its shares over the next 12 months. Shares of the U.S.-listed JD.com rose as much as 8.2 percent to $28.10 during pre-market trading on Feb. 28.
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