JD.Com Inc (NASDAQ:JD) stock fell 2.41% (As on May 18, 11:34:17 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 22. The net loss attributable to ordinary shareholders stood at 2.99 billion yuan, compared with a profit of 3.62 billion yuan a year earlier. Non-GAAP income from operations increased by 32.8% to RMB4.7 billion (US$0.7 billion) for the first quarter of 2022 from RMB3.5 billion for the first quarter of 2021. Operating margin of JD Retail before unallocated items for the first quarter of 2022 was 3.6%, compared to 4.0% for the first quarter of 2021. Operating cash flow for the twelve months ended March 31, 2022 was RMB46.3 billion (US$7.3 billion), compared to RMB36.6 billion for the twelve months ended March 31, 2021. Free cash flow, which excludes the impact from JD Baitiao receivables included in the operating cash flow, for the twelve months ended March 31, 2022 was RMB27.2 billion (US$4.3 billion), compared to RMB28.2 billion for the twelve months ended March 31, 2021. Annual active customer accounts increased by 16.2% to 580.5 million in the twelve months ended March 31, 2022 from 499.8 million in the twelve months ended March 31, 2021.

JD in the first quarter of FY 22 has reported the adjusted earnings per share of 2.53 yuan per American depository share (ADS), beating the analysts’ estimates for the adjusted earnings per share of 1.62 yuan. The company had reported the adjusted revenue growth of 18 percent to 239.66 billion yuan ($35.6 billion) in the first quarter of FY 22, beating the analysts’ estimates for revenue of 236.66 billion yuan, according to IBES data from Refinitiv. Net service revenues for the first quarter of 2022 were RMB35.2 billion (US$5.6 billion), an increase of 26.3% from the first quarter of 2021.

Meanwhile, in the first quarter, JD.com established partnerships with a series of high-end brands, including Kering group’s high-end jewelry brand Qeelin, French luxury brand Lanvin, German luxury fashion ecommerce platform Mytheresa, as well as high-end accessories and lifestyle brand MCM, American premium lifestyle brand Tory Burch, and French premium cookware brand Le Creuset. Meanwhile, JD.com welcomed multiple beauty brands onto the platform, such as Shu Uemura and YSL under L’Oreal group, as well as men’s skincare brand LAB SERIES and the Re-Nutriv collection under Estee Lauder group. In addition, a set of apparel brands including Abercrombie & Fitch, Champion and Ochirly also opened stores on JD.com during the quarter.