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Home Economie

JD.com says its revenue jumped 29.2% in the fiscal third quarter.

souhaib by souhaib
November 16, 2020
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  • JD.com says its revenue jumped 29.2% in the fiscal third quarter.
  • The e-commerce giant reports £870 million of net income in Q3.
  • The Chinese firm’s annual active customer accounts increased 32.1%.

JD.com Inc. (NASDAQ: JD) said on Monday that its profit and sales in the fiscal third quarter came in stronger than expected. Earlier this year, the Chinese e-commerce giant raised £3.04 billion via its secondary listing in Hong Kong in June.  

JD.com slipped close to 4% in premarket trading on Monday and lost another 4% on market open. The NASDAQ listed shares of the Chinese company are now trading at £64.69 per share versus £28.61 per share at the start of the year. Much of the rise in JD’s stock is attributed to the COVID-19 crisis that fuelled e-commerce in recent months.


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JD.com’s Q3 financial results versus analysts’ estimates

JD said that net income in the third quarter came in at £870 million that translates to 54 pence per American depositary share (ADS). In the comparable quarter of last year, the e-commerce company had reported £69.04 million of net income or 4.7 pence per ADS. In the prior quarter (Q2), JD.com had noted £1.76 billion of net income, as per the report published in August.

Excluding one-time items, JD.com earned 39 pence per ADS in the recent quarter versus 24 pence per ADS in the same quarter last year. According to FactSet, experts had forecast 31 pence per share of adjusted EPS for the Chinese company in Q3.

In terms of revenue, the Beijing-based company posted £20.05 billion in the third quarter that represents a 29.2% year over year growth. FactSet Consensus for revenue stood at a lower £19.53 billion.

JD.com said that merchandise sales jumped in the recent quarter by 34.8% to £6.69 billion. Net service revenue, it added, came in at £2.62 billion or 42.7% higher as compared the same quarter last year.

Annual active customer accounts increased 32.1%

At 4441.6 million, annual active customer accounts, JD.com said, registered a 32.1% annualised growth in the twelve months that concluded on 30th September. Fulfilled gross margin stood at 8.7% versus 8.4% last year.

CEO Richard Liu commented on the financial update on Monday and said:

“Today, ass China emerges from the pandemic we are glad to see that our business partners are recovering rapidly with the support of our online and offline supply chain infrastructure.”

JD.com performed largely upbeat in the stock market last year with an annual gain of roughly 65%. At the time of writing, it is valued at £98.89 billion and has a price to earnings ratio of 40.08.



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