BEIJING—Chinese e-commerce giant JD.com Inc. said Friday it narrowed its net loss for the first quarter on the back of a double-digit surge in revenue.
The company said it posted a net loss for the three months ended March 31 of 710.21 million renminbi, or $114.6 million according to dollar figures supplied by the company. The year-earlier loss was more than five times that size at 3.8 billion renminbi, or $620.9 million at average exchange rates for the period.
JD.com said it reduced its losses thanks to a decrease in share-based compensation expenses compared to the first quarter a year earlier. The company did note that it saw an increase in amortization of intangible assets related to its partnership with Tencent.
Sales for the quarter rose 62 percent to 36.6 billion renminbi, or $5.9 billion.
JD.com said revenue for the second quarter should…
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