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Wednesday, May 19, 2021 10:10:07 AM
JD.com (JD) Tops Earnings Forecasts; e-Commerce Platform Users Near 500 Million
By: TheStreet | May 19, 2021
• The addition of big brands such as Starbucks and Unilever to the China-based e-commerce platform helped boost total users to nearly half a billion, JD.com said Wednesday.
JD.com (JD) posted better-than-expected first quarter earnings Wednesday as active users neared 500 million amid a renewed push for new brands and sellers on the China-based e-commerce platform.
JD.com said diluted non-GAAP earnings for the three months ending in March came in at 2.47 Chinese yuan per share, well ahead of the consensus forecast of 2.21 yuan per share and a 24.7% increase from the same period last year. Group revenues rose 39% from last year to 203.2 billion yuan ($31.6 billion) and were also ahead of the Street consensus forecast of $29.6 billion.
Active customer accounts across its platform jumped 29% to 499.8 million over the 12 month period ending in March, JD.com said, while marketing expenses were up 56.6% to just over $1 billion as big names such as Starbucks (SBUX) and Unilever (UN) were added to the platform's line-up.
“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” said CEO Richard Liu. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”
JD.com's U.S.-listed shares were marked 2.25% lower in early trading immediately following the earnings release, compared to a 1.6% decline for the Nasdaq, to change hands at $67.95 each, a move that would trim the stock's year-to-date decline to around 18%.
Last week, JD.com's main rival, Alibaba Group Holding (BABA), posted a net loss of 30 cents per share thanks to a $2.78 billion anti-monopoly fine paid to the Chinese government. Alibaba's March quarter revenues, however, rose 64% to 187.4 billion Chinese yuan, or $29.03 billion, compared to analysts' forecasts of a 180.4 billion tally.
Alibaba noted that it expects to generate 930 billion yuan in sales during the current financial year.
Read Full Story »»»
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By: TheStreet | May 19, 2021
• The addition of big brands such as Starbucks and Unilever to the China-based e-commerce platform helped boost total users to nearly half a billion, JD.com said Wednesday.
JD.com (JD) posted better-than-expected first quarter earnings Wednesday as active users neared 500 million amid a renewed push for new brands and sellers on the China-based e-commerce platform.
JD.com said diluted non-GAAP earnings for the three months ending in March came in at 2.47 Chinese yuan per share, well ahead of the consensus forecast of 2.21 yuan per share and a 24.7% increase from the same period last year. Group revenues rose 39% from last year to 203.2 billion yuan ($31.6 billion) and were also ahead of the Street consensus forecast of $29.6 billion.
Active customer accounts across its platform jumped 29% to 499.8 million over the 12 month period ending in March, JD.com said, while marketing expenses were up 56.6% to just over $1 billion as big names such as Starbucks (SBUX) and Unilever (UN) were added to the platform's line-up.
“As we mark JD.com’s 18th anniversary, we are pleased to deliver another strong quarter of growth to kick off 2021,” said CEO Richard Liu. “Since our establishment, JD’s focus on customers has set us apart and today we are proud that 500 million active users rely on JD’s broad selection of quality products and best-in-class customer services to support every aspect of their lives. JD is also increasingly the partner of choice for millions of businesses who benefit from our advanced supply-chain infrastructure to reduce costs and boost operating efficiency.”
JD.com's U.S.-listed shares were marked 2.25% lower in early trading immediately following the earnings release, compared to a 1.6% decline for the Nasdaq, to change hands at $67.95 each, a move that would trim the stock's year-to-date decline to around 18%.
Last week, JD.com's main rival, Alibaba Group Holding (BABA), posted a net loss of 30 cents per share thanks to a $2.78 billion anti-monopoly fine paid to the Chinese government. Alibaba's March quarter revenues, however, rose 64% to 187.4 billion Chinese yuan, or $29.03 billion, compared to analysts' forecasts of a 180.4 billion tally.
Alibaba noted that it expects to generate 930 billion yuan in sales during the current financial year.
Read Full Story »»»
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