(Boursier.com) — JD.com, the Chinese e-commerce group listed on Wall Street, is gaining some ground before market after the publication of quarterly earnings above expectations. The group announced a profit for the third quarter practically doubled and well above expectations. JD made a net profit of 5.96 billion yuan (about $837 million), or 3.57 yuan per ADS, compared to a net loss of 2.81 billion yuan, or 1.81 yuan per ADS, one year before. Excluding one-time items, ADS-adjusted profit rose from 3.16 to 6.27 yuan, well above the FactSet consensus of 4.86 yuan. Revenue rose 11.4% to 243.55 billion yuan ($34.2 billion), beating the FactSet consensus of 242.96 billion yuan. Net product revenue rose 5.9 percent to 197.03 billion yuan, while service revenue soared 42.2 percent to 46.51 billion. Adjusted operating margin improved to 4.1% from 2.1%. The number of annual active customers increased by 6.5% to 588.3 million. Inventories fell 5.1% to 71.76 billion yuan as of September 30.
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