JD.com earnings for the fourth quarter of 2018 have JD stock heading higher on Thursday.
JD.com (NASDAQ:JD) reported earnings per share of 7 cents for the fourth quarter of the year. This is an increase over the company’s earnings per share of 4 cents from the same time last year. It was also a blessing to JD stock by blowing past Wall Street’s losses per share estimate of 4 cents for the quarter.
Net loss reported in the JD.com earnings release for the fourth quarter of 2018 comes in at $698.82 million. While this is a wider net loss than its $139.70 million from the same period of the year prior, it wasn’t keeping JD stock down on Thursday.
JD.com earnings for the fourth quarter of the year also include revenue of $19.61 billion. This is up roughly 22% from the company’s revenue reported in the fourth quarter of the previous year. Despite this increase, it fails to reach Wall Street’s revenue estimate of $19.70 billion for the period, but this wasn’t enough to drag JD stock down today.
“Overall, we saw healthy top line and bottom line performance in the fourth quarter, reflecting our balanced approach towards financial discipline and investing for the future,” Sidney Huang, CFO of JD.com, said in a statement. “In particular, our core JD Mall business has continued to grow with improving margin.”
JD stock was up 4% as of Thursday afternoon and is up 22% since the start of the year.
As of this writing, William White did not hold a position in any of the aforementioned securities.