JD.com (NASDAQ:JD) earnings for the Chinese e-commerce company’s third quarter of 2019 have JD stock down on Friday. This is despite the company announcing Non-GAAP EPS of 29 cents on revenue of $18.87 billion. These are both better than Wall Street’s estimates of 17 cents per share and $18.13 billion.
Let’s take a closer look at the most recent JD.com earnings report.
- Non-GAAP earnings per share are up 141.67% from 12 cents in Q3 2018.
- Revenue is sitting 26.22% higher than the $14.95 billion in the same period of the year prior.
- Operating income of $695.78 million is better than an operating loss in the third quarter of the previous year.
- The JD.com earnings report also includes a net income of $77.05 million.
- That’s 87.93% better than the company’s net income of $41 million during the same time last year.
Sidney Huang, Chief Financial Officer of JD.com, says this about the Q3 JD stock earnings.
“JD saw excellent results for the third quarter marked by accelerating revenue growth and record operating profit margin. Customer growth also remained solid, reflecting our commitment to becoming China’s top source for quality products at everyday low prices, supported by world class operating efficiency. Looking forward, we will increasingly benefit from the economies of scale inherent in JD’s unique business model through our leading supply chain, technology and service capabilities.”
JD stock started out strong on Friday peaking at a 4.30% increase in the morning. However, the stock is now down slightly as of the afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.