JD delivers Q1 loss ahead of its IPO

E-commerce retailer JD.com Inc reported a first-quarter loss ahead of its imminent initial public offering in the United States, suggesting the vendor's profit outlook may be weaker than meets the eye.

In an update to its IPO prospectus on Monday, China's second-largest business-to-customer site reported a net loss of 3.795 billion yuan ($608.4 million) from January to March, in contrast to a year-earlier profit of 13 million yuan.

Revenue expanded 65.1 percent to 22.7 billion yuan, it said.