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China E-Commerce Giant JD.com Tops Quarterly Earnings Estimates

JD.com (JD) reported better-than-expected fourth-quarter results early Thursday as annual active customer accounts, a closely watched metric, soared by 30% to 471.9 million. JD stock wavered.




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The China e-commerce giant reported adjusted earnings of 23 cents a share. That’s up 18% from the year-ago period and topping analyst estimates of 19 cents. Revenue jumped 31% to $34.4 billion, beating estimates of $33.7 billion.

JD stock was trading flat, near 89.70, during morning trading on the stock market today.

The company has achieved double-digit revenue growth every quarter going back several years and has been consistently profitable.

Action In JD Stock

During morning trades, JD stock initially climbed about 5%, then pulled back, after rising up to and touching its 50-day moving average. Shares originally fell below the 50-day line on March 4.

“During this quarter, JD continued its strategic transformation into a supply chain-based technology and service company with increasingly diversified sources of revenues,” Chief Executive Richard Liu said in written remarks with the JD.com earnings release.

“With a strong momentum going into 2021 and with our recently optimized organizational structure, JD will continue to invest in innovative, high potential businesses to drive long-term sustainable growth,” he said.

$140.5 Billion In Revenue For 2021

JD.com is on track to pull in more than $115 billion in revenue for 2021.

JD.com has numerous business units and offers a vast selection of products across every major category. Its core e-commerce business sells electronics, apparel, home furnishings and appliances. It also sells fresh food and groceries.

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Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets. 

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