JD.com has announced its unaudited financial results for the final quarter and full year ended December 31, 2018.
The Chinese e-commerce behemoth smashed analyst expectations, with revenue up 22.4 percent in the fourth quarter of 2018 versus the same period in 2017 to reach RMB134.8 billion (US$19.6 billion). Full year revenue was up 27.5 percent to RMB462 billion.
The company welcomed a number of key premium brands to the platform over the course of the year, including AmorePacific-owned Sulwhasoo.
“In the fourth quarter of 2018, JD.com continued to outperform the industry across our key product categories,” said Richard Liu, Chairman and CEO of JD.com. “Our investments in technology enhanced the customer experience and enabled greater operating efficiency. As JD.com pushes the boundaries of retail, we are committed to optimizing our resources across our business in order to deliver long term value to our shareholders.”
“Overall, we saw healthy top line and bottom line performance in the fourth quarter, reflecting our balanced approach towards financial discipline and investing for the future,” said Sidney Huang, Chief Financial Officer of JD.com. “In particular, our core JD Mall business has continued to grow with improving margin. We focused on developing industry leading technology innovation and infrastructure to drive greater efficiency and economies of scale in the future.”
The company predicted revenue growth of between 19 and 22 percent for the first quarter of fiscal 2019.