May 8, 2017 / 8:26 AM / 7 months ago says Q1 revenue grew 41 pct, above expectations

May 8 (Reuters) - Inc, China’s second-largest e-commerce firm, said on Monday its first-quarter revenue grew 41.2 percent from a year earlier, beating analysts’ expectations.’s revenue for the three months ended March was 76.2 billion yuan ($11.04 billion), compared with an average estimate of 73.5 billion yuan, according to a survey of 14 analysts by Thomson Reuters. in March forecast first-quarter revenue of 72 billion-74 billion yuan.

The company reported a net profit of 355.7 million yuan for the quarter, compared with a loss of 867.3 million yuan a year earlier.

It predicted second-quarter revenue of 88 billion-90.5 billion yuan. made a net profit of 0.17 yuan per American Depository Share in the first quarter, compared with a loss of 0.66 yuan a year earlier. ($1 = 6.9030 Chinese yuan) (Reporting by Ismail Shakil in Bengaluru and Cate Cadell; Editing by Randy Fabi and Amrutha Gayathri)

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