JD.com Inc. (NASDAQ: JD), a leading e-commerce firm in China, on Wednesday reported higher revenues and adjusted earnings for the fourth quarter of 2023.
Adjusted profit moved up 10% annually to $0.75 per ADS in the fourth quarter. On an unadjusted basis, the net profit was $477 million or $0.30 per ADS in Q4, which is up 12% from the prior-year period.
At $43.1 billion, fourth-quarter revenues were up 4% from the corresponding period of 2022. Both Net Product revenues and Net Service revenues increased during the three months.
Ian Su Shan, CFO of JD.com, said, “Our core home appliance and electronics categories continued
to outperform the industry, and general merchandise category returned to a growth trajectory in the quarter. Reflecting our strong profitability and balance sheet, we remain committed to returning value to shareholders in the form of an annual cash dividend, as well as through our share repurchase program.”
