JD.Com (NASDAQ:JD) stock was up today despite reporting an earnings miss for the second quarter of the year.
JD.Com’s earnings report for the second quarter of the year includes earnings per share of 5 cents. This is a drop from the company’s earnings per share of 10 cents from the same time last year. It also wasn’t able to reach Wall Street’s earnings per share estimate of 10 cents for the quarter.
While JD.Com’s earnings per share for the quarter was a disappointment, its revenue was not. The company’s revenue for the quarter was $18.50 million. This is up 31.2% from the second quarter of 2017. It was also able to beat out analysts’ revenue estimate of $17.80 billion for the period.
JD.Com’s earnings report for the second quarter of 2018 also includes a net loss of $334.4 million. This is worse off than the company’s net loss of $41.69 million reported in the same period of the year prior.
Operating loss reported by JD.Com for the second quarter of the year came in at $156.25 million. This is down from the company’s operating loss of $58.54 million from the second quarter of the previous year.
“We are pleased to see continued healthy performance in the second quarter, with solid revenue growth and improved margins in our core JD Mall business,” Sidney Huang, CFO at JD.Com, said in a statement. “Our new business initiatives continue to gain impressive traction across the industry. We will maintain a balanced, long-term approach to investing in the technologies that will define the future of retail.”
JD stock was up slightly as of noon Thursday, but is down 25% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.