(MENAFN - Baystreet.ca) Beijing-based JD.com, Inc. (NASDAQ:JD) noticed a jump in its stock price Tuesday, uon the release of unaudited financial results for the quarter ended June 30, 2019.
Net revenues were RMB150.3 billion ($21.9 billion U.S.), an increase of 22.9% from the second quarter of 2018. Net service revenues for the second quarter of 2019 were RMB16.8 billion ($2.4 billion U.S.), an increase of 42.0% from the second quarter of 2018.
Income from operations for the second quarter of 2019 was RMB2,266.6 million ($330.2 million U.S.), compared to loss from operations of RMB1,033.9 million for the same period last year.
Diluted net income per ADS for the second quarter of 2019 was RMB0.36 ($0.05 U.S.), compared to diluted net loss per ADS of RMB1.54 for the second quarter of 2018. Non-GAAP diluted net income per ADS for the second quarter of 2019 was RMB2.30 ($0.33 U.S.), compared to RMB0.33 for the same quarter last year.
CEO Richard Liu commented, "Highlighted by our successful June 18th anniversary sales event, JD's strong performance in the second quarter further demonstrated the resilience of our superior business model in a highly competitive industry.
"JD's commitment to bringing users the best overall shopping experience continues to win over consumer mindshare. We will remain focused on leveraging technology and innovation to enhance our offerings, increase efficiency and drive shareholder value for the long term."
Shares opened Tuesday up $1.70, or 6.3%, to $28.86