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.
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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