November 15, 2016 / 10:30 AM / a year ago posts quarterly revenue up 38 pct, beating estimates

Nov 15 (Reuters) - Inc, China’s second largest e-commerce firm, said on Tuesday its third-quarter revenue grew 38 percent from a year ago, slightly exceeding expectations. said revenues for the three months ended September were 60.7 billion yuan ($8.86 billion), beating average estimates of 60.2 billion yuan, according to a survey of 15 analysts by Thomson Reuters. in August forecast third quarter revenues of 59-61 billion yuan, amid concerns that China’s retail sector would be hit by a slowing economy.

The company’s net loss for the quarter expanded to 807.9 million yuan from 534.9 million yuan a year earlier. saw a net loss of 0.64 yuan ($0.10) per American Depository Share in the third quarter, compared to a loss of 0.39 yuan a year earlier.

The company recorded 158.8 billion yuan in gross merchandise value (GMV) for the third quarter, up 43 percent from the same period in 2015. ($1 = 6.8486 Chinese yuan renminbi) (Reporting by Cate Cadell; Editing by Muralikumar Anantharaman)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below