JD.com (NASDAQ:JD) earnings for the second quarter of fiscal year 2020 have JD stock rising on Monday. This move comes after reporting adjusted earnings per American Depositary Share (ADS) of 50 cents, which is better than Wall Street’s estimate of 38 cents for the quarter. Also, its revenue of $28.46 billion is above analysts’ estimate of $27.45 billion.
Moreover, the company reported GAAP earnings per ADS of $1.48 for the period.
Here’s a more thorough look at the most recent JD.com earnings report.
- Adjusted earnings per ADS were up 51.5% from 33 cents during the same time last year.
- Revenue for the quarter comes in 30% above the $21.89 billion from the second quarter of 2019.
- Operating income of $713.94 million is a 116.2% increase year-over-year from $330.16 million.
- The JD.com earnings report also has it bringing in a net income of $2.32 billion.
- That’s much better compared to $79.52 million from the same period of the year prior.
Richard Liu, chairman and CEO of JD.com, said this about the JD stock earnings:
“Since the COVID-19 outbreak, JD has steadfastly leveraged our distinctive supply chain and technology capabilities to contribute to society and ensure the steady supply and undisrupted delivery of daily necessities to consumers, while helping to create jobs within our ecosystem and support business partners amidst the dynamic economic environment. I’m grateful for the efforts of JD’s employees and business partners in driving another solid quarter of accelerated revenue growth, as our extensive product offerings and superior services continue to attract large numbers of new users.”
The company did not mention any sort of guidance for the remainder of FY2020. That said, we know what Wall Street is looking for. Analysts are calling for earnings per ADS of $1.32 on revenue of $102.91 billion.
JD stock was up 4% as of Monday morning.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.
