JD.com Inc. (NASDAQ: JD), a leading e-commerce firm based in China, reported a sharp increase in adjusted net income for the third quarter of 2024, aided by an increase in revenues.
On an adjusted basis, third-quarter earnings jumped 30% year-over-year to $1.24 per ADS. On an unadjusted basis, the net profit was $1.7 billion or $1.10 per ADS in Q3, up 48% and 55% respectively from the prior-year period.
At $37.1 billion, third-quarter revenues were up 5% from the corresponding period of 2023. Net Product Revenue and Net Service Revenue increased by 5% and 7% respectively.
Ian Su Shan, CFO of JD.com, said, “As we continued to build up supply chain capabilities to drive better scale benefits and operating efficiency, both our gross margin and non-GAAP net margin achieved healthy improvement year-on-year in the quarter.“