JD.com (NASDAQ:JD) earnings for the Chinese e-commerce company’s first quarter of 2020 have JD stock up on Friday. That comes after reporting adjusted earnings per share of 1.98 yuan. That’s much better than Wall Street’s estimate of 0.78 yuan. Its revenue was 146.21 billion yuan, which is above analysts’ estimates of 137 billion yuan.
Here’s what else is worth mentioning from the most recent JD.com earnings report.
- Adjusted per-share earnings are down 11.2% from 2.23 yuan in the first quarter of 2019.
- Revenue for the quarter comes in 20.7% higher than the 121.08 billion yuan reported during the same time last year.
- Operating income of 2.32 billion yuan is up 88.6% year-over-year from 1.23 yuan.
- The JD.com earnings report also has net income coming in at 1.06 billion yuan.
- That’s an 85.4% drop compared to its net income of 7.24 billion yuan in the same period of the year prior.
Sidney Huang, CFO of JD.com, said this about Q1 earnings.
“JD’s resilient business model helped drive solid top and bottom-line results for the quarter that exceeded our expectations. We are also pleased to see an accelerating increase in user engagement, demonstrating our strengthened brand image and expanded consumer mindshare.”
JD.com includes an outlook for the second quarter of 2020 in its earnings report. The company is expecting revenue to range from 180 billion yuan to 195 billion yuan. That’s looking good next to Wall Street’s estimate of 176.91 billion yuan for the quarter.
JD stock was up 2.5% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
