JD.com beats profit and revenue expectations as new users reach a record, but stock slips

Dow Jones2021-08-23

MW JD.com beats profit and revenue expectations as new users reach a record, but stock slips

JD.com Inc. $(JD)$ reported Monday second-quarter that fell but beat expectations, while revenue rose above forecasts, as the China-based supply chain-based technology and service provider added more than 32 new users, a quarterly record. The stock slipped 0.5% in premarket trading. Net income fell to RMB794.3 million ($123.02 million), or RMB0.50 per American depositary receipt, from RMB16.45 billion, or RMB10.47 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per ADS slipped to RMB2.90 from RMB3.51, but was above the FactSet consensus of RMB2.60. Total revenue rose 26.2% to RMB253.80 billion ($39.31 billion), to beat the FactSet consensus of RMB248.28 billion, as net product revenue grew 23.3% and net service revenue rose 49.2%. Annual active customer accounts increased 27.4% to 531.9 million in the 12 months through June 30. The stock, which has dropped 12.6% over the past three months through Friday, closed at a one-year low of $62.19 on Thursday. In comparison, the iShares MSCI China ETF $(MCHI)$ has dropped 16.7% the past three months while the S&P 500 has gained 6.9%.

-Tomi Kilgore

 

$(END)$ Dow Jones Newswires

August 23, 2021 06:27 ET (10:27 GMT)

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Comments

  • Jac_jk
    2021-08-23
    Jac_jk
    How come not indicated in the premarket share price 
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