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JD.com earnings announced – the stock is up

7 March 2024 By Klavs Valters

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It hasn’t been the best start to 2024 for JD.com Inc. (NASDAQ: JD) with the stock down by over 14%.

On Wednesday, the Chinese e-commerce company announced the latest financial results, which sent the stock higher.

Beijing based company achieved revenue of $43.111 billion vs. $42.216 billion expected. Revenue increased by 3.6% year-over-year.

Earnings per share (EPS) also topped analyst estimate of $0.661 at $0.747 per share. EPS was up by 10.18% from the same period the year before.

Full year revenue was up by 3.7% from 2022 at $152.8 billion. Full year EPS reached $3.12, up by 25.04% year-over-year.

Company overview

  • Founded: 1998
  • Headquarters: Beijing, China
  • Number of employees: 450,680 (2022)
  • Industry: E-commerce
  • Key people: Sandy Xu (CEO)

CEO commentary

“We were pleased to finish 2023 on a strong note, with upticks in both revenues and profitability for the fourth quarter,” Sandy Xu, CEO of JD said in a statement to investors.

“JD’s proactive actions have begun to produce results as our decisive focus on user experience, price competitiveness and platform ecosystem drives deeper and more frequent user engagement and healthier user growth momentum. With the two priorities of user experience improvement and market share expansion, we look forward to creating more value for our users, business partners and shareholders in 2024,” Xu concluded his statement.

Stock reaction

Shares were up by over 16% during Wednesday’s session, trading at $25.07 a share – the highest level since 11/1/24.

Stock performance

  • 5 day: +8.31%
  • 1 month: +7.18%
  • 3 months: -7.12%
  • Year-to-date: -14.49%
  • 1 year: -47.41%

JD.com stock price targets

  • Barclays: $35
  • Citigroup: $42
  • Mizuho: $35
  • Susquehanna: $30
  • Benchmark: $67
  • UBS Group: $39
  • The Goldman Sachs Group: $53
  • Sandford C. Bernstein: $31
  • JP Morgan Chase & Co.: $31
  • Morgan Stanley: $33
  • Bank of America: $51
  • HSBC: $70

JD.com Inc. is the 506th largest company in the world with a market cap of $39.04 billion, according to CompaniesMarketCap.

You can trade JD.com Inc. (NASDAQ: JD) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to “Trading” then select “Share CFDs”.

GO Markets offers pre-market and after-market trading on popular US Share CFDs.

Why trade during extended hours?

  • Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
  • Reduce your risk and hedge your existing positions ahead of a new trading day
  • Extended trading hours on popular US stocks means extended opportunities

Sources: JD.com Inc., TradingView, MarketWatch, MarketBeat, CompaniesMarketCap

Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.