JD.com stock took a hit on Monday following the release of its earnings report for the third quarter of 2018.
JD.com (NASDAQ:JD) reported revenue of $15.25 billion for the third quarter of the year. This is better than the company’s revenue of $12.06 billion reported in the same period of the year prior. However, it was bad new for JD.com stock by missing Wall Street’s revenue estimate of $15.31 billion for the quarter.
JD.com also reported earnings per share of 12 cents for the third quarter of 2018. This is down from the company’s earnings per share of 22 cents reported in the third quarter of the previous year. However, it did still beat out analysts’ earnings per share estimate of 10 cents for the period, but couldn’t save JD.com stock today.
Net income reported by JD.com for the third quarter of the year came in at $414.41 million. This is an increase over the $140.90 million of net income that was reported by the company in the third quarter of 2017.
JD.com’s most recent earnings report also includes an operating loss of $93.74 million. The Chinese e-commerce company reported operating income of $72.37 million during the same time last year.
“JD’s strategic focus on improving customer experience helped drive strong performance across the business,” Sidney Huang, CFO of JD.com, said in a statement. “We will continue our disciplined strategy of investing in key technologies as we focus on optimizing operations and driving economies of scale over the coming quarters.”
JD stock was down 2% as of Monday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.