JD.Com Inc(ADR) (NASDAQ:JD) stock was up on Tuesday following the release of its earnings report for the third quarter of 2016.
JD.Com Inc(ADR) reported earnings per share of 3 cents for the third quarter of the year. This is up from its flat earnings per share from the same time in the year prior. It also came in above analysts’ estimates, which had the company reporting losses per share of 6 cents for the quarter.
Revenue reported by JD.Com Inc(ADR) for the third quarter of 2016 was $9.12 billion. The online retail company reported revenue of $6.43 billion in the third quarter of 2015. Wall Street was expecting JD to report revenue of $8.86 billion for the third quarter of 2016.
JD.Com Inc(ADR) pointed out that its revenue from its e-commerce business in the third quarter of 2016 was $800 million. This represents a 60% increase over its e-commerce revenue from the same time last year.
“We are very pleased to see continued market-leading growth while improving our JD Mall operating margin across all categories, and our free cash flow for the trailing twelve months reached another record high,” Sidney Huang, CFO at JD.com, said in a statement. “We expect further margin expansion in the years ahead as we focus on technology-driven growth initiatives and strategic investments that lay the groundwork for our long-term industry leadership.”
JD.Com Inc(ADR) also announced approval of reorganization efforts for JD Finance. JD Finance handles the company’s internet finance business. The company is considering selling JD Finance once the reorganization is complete.
JD stock was up 11% as of Noon Tuesday, but is down 16% year-to-date.
