Categories AlphaGraphs, Earnings, LATEST, Retail, Technology
JD.com reports massive earnings beat in Q2
Shares of Chinese e-commerce giant JD.com (NASDAQ: JD) gained 4.8% after reporting a massive earnings surprise in the second quarter. Net income, on an adjusted basis, came in at 33 cents per share, compared to 7 cents per share expected by the Wall Street.
Net revenues spiked 23% to RMB150.3 billion (21.9 billion), beating average analysts’ projection of $20.89 billion, helped by its strong foothold in the e-commerce market. Net service revenues registered a 42% jump in the second quarter, while net product revenues increased by 20.8%.
At the end of the quarter, the company had 321.3 million annual active customer accounts, compared to 310.5 million a year ago.
Net revenues for the third quarter are expected to be between RMB126 billion and RMB130 billion, representing a growth rate between 20% and 24% compared with the third quarter of 2018.
READ: Weakness in data center biz unlikely to recede for NVIDIA in Q2
CFO Sidney Huang said, “Our economies of scale and innovative technologies are driving operating efficiency and further strengthening our business model. Looking ahead, we will continue to invest in user experience and our talented workforce to further grow the business and create value for all of our stakeholders.”
JD.com’s shares have gained 26% so far this year. A majority of analysts have rated the stock as Buy and it has a 12-month price target of $35.10.
Most Popular
CVX Earnings: Chevron reports lower revenue and profit for Q3 2024
Energy exploration company Chevron Corporation (NYSE: CVX) on Friday announced third-quarter 2024 financial results, reporting a decline in net profit and revenues. Net income attributable to Chevron Corporation dropped to
Key highlights from Exxon Mobil Corporation’s (XOM) Q3 2024 earnings results
Exxon Mobil Corporation (NYSE: XOM) reported its third quarter 2024 earnings results today. Total revenues and other income remained relatively flat at $90 billion compared to the same period a
AAPL Earnings: Apple Q4 2024 sales rise 6% YoY, beat estimates
Apple Inc. (NASDAQ: AAPL) reported an increase in revenues for the fourth quarter of 2024. The top line came in above estimates. The gadget giant generated revenues of $94.9 billion
Comments
Comments are closed.