JD.com Stock Rises as Chinese E-Commerce Giant Posts 25% Sales Increase

Text size

A worker collects a package after it was delivered by an automated conveyer belt at a JD.com distribution center in Beijing.


GREG BAKER/AFP/Getty Images

JD.com
,
the Chinese e-commerce giant, reported a more than 25% jump in third-quarter revenue, with the company saying its “growing consumer mindshare” helped drive the results.

Revenue in the quarter was 218.7 billion yuan ($33.9 billion), an increase of 25.5% from the third quarter of 2020, and higher than analysts’ forecasts.

“Our growing consumer mindshare helped drive the strong results for the quarter with more new and existing users purchasing high-frequency products such as supermarket categories on JD,” said Chief Financial Officer Sandy Xu.

“We were also pleased to see our key strategic initiatives including the third-party marketplace and omni-channel strategies begin to generate positive results,” Xu added.

JD.com (ticker: JD) reported a loss in the quarter of 2.8 billion yuan, or $1.81 per American depositary share, compared with year-earlier earnings of 7.6 billion yuan, or $4.70.

Non-GAAP income was 5 billion yuan, JD.com said in a press release, vs. 5.6 billion yuan a year earlier.

Operating income in the third quarter fell 41% to 2.57 billion yuan.

The company said annual active customer accounts rose 25% to 552.2 million in the 12 months ended Sept. 30.

U.S.-listed shares of JD.com rose 2% in premarket trading to $84.85.

Competitor

Alibaba

(BABA) was slumping after fiscal second-quarter earnings and sales missed estimates.

Write to Joe Woelfel at joseph.woelfel@barrons.com

Air Conditioning Servicing | Baltimore News | Bariatric Operation.com | Bariatric Plate |