JD.com earnings announced – the stock is up

It hasn’t been the best start to 2024 for JD.com Inc. (NASDAQ: JD) with the stock down by over 14%.

On Wednesday, the Chinese e-commerce company announced the latest financial results, which sent the stock higher.

Beijing based company achieved revenue of $43.111 billion vs. $42.216 billion expected. Revenue increased by 3.6% year-over-year.

Earnings per share (EPS) also topped analyst estimate of $0.661 at $0.747 per share. EPS was up by 10.18% from the same period the year before.

Full year revenue was up by 3.7% from 2022 at $152.8 billion. Full year EPS reached $3.12, up by 25.04% year-over-year.

Company overview

• Founded: 1998
• Headquarters: Beijing, China
• Number of employees: 450,680 (2022)
• Industry: E-commerce
• Key people: Sandy Xu (CEO)

CEO commentary

“We were pleased to finish 2023 on a strong note, with upticks in both revenues and profitability for the fourth quarter,” Sandy Xu, CEO of JD said in a statement to investors.

“JD’s proactive actions have begun to produce results as our decisive focus on user experience, price competitiveness and platform ecosystem drives deeper and more frequent user engagement and healthier user growth momentum. With the two priorities of user experience improvement and market share expansion, we look forward to creating more value for our users, business partners and shareholders in 2024,” Xu concluded his statement.

Stock reaction

Shares were up by over 16% during Wednesday’s session, trading at $25.07 a share – the highest level since 11/1/24.

Stock performance

• 5 day: +8.31%
• 1 month: +7.18%
• 3 months: -7.12%
• Year-to-date: -14.49%
• 1 year: -47.41%

JD.com stock price targets

• Barclays: $35
• Citigroup: $42
• Mizuho: $35
• Susquehanna: $30
• Benchmark: $67
• UBS Group: $39
• The Goldman Sachs Group: $53
• Sandford C. Bernstein: $31
• JP Morgan Chase & Co.: $31
• Morgan Stanley: $33
• Bank of America: $51
• HSBC: $70

JD.com Inc. is the 506th largest company in the world with a market cap of $39.04 billion, according to CompaniesMarketCap.

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Sources: JD.com Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap