JD.com saw strong growth in Q1 2017, with net revenue climbing 41% year-over-year (YoY) to 76.2 billion yuan ($11.04 billion).
This revenue growth pushed the company into profitability for the first time since its IPO in 2014. Gross merchandise volume (GMV) grew 42% YoY in the quarter, with extraordinarily high growth of 70% in the food and beverage, home furnishings, cosmetics, and baby products categories. JD.com expects revenue to grow at a 35% to 39% YoY rate in Q2 2017.
However, CFO Sidney Huang, said the company plans to make investments aimed at better competing with Alibaba that could impact earnings in future periods.
- JD.com plans to use some of its profits to…