JD.com Inc. (NASDAQ:JD) saw its shares drop around 8% in pre-market trading after the Chinese e-commerce group only reported in-line results for the fourth quarter of 2017.
The Nasdaq-listed firm posted a net loss per ordinary share of 5 US cents, narrower than the 9 cent loss a year earlier, and in line with the consensus estimate, with its net loss per American Depository Receipt (ADR) share at 10 US cents.
READ: Net losses widen at China's biggest retailer JD.com
The group’s quarterly revenue of US$17.4bn was slightly ahead of consensus for US$17.2bn, but its cost of revenues for the December quarter rose 40%.
JD.com said this was "primarily due to the growth of the company's online direct sales business, traffic acquisition costs directly related to the online marketing services provided to merchants and suppliers, as well as costs related to the logistics services provided to merchants and other partners."
In pre-market New York trading, JD.com’s ADRs were down 8.1% at US$42.48.