JD.com Inc. (NASDAQ: JD | JD Price Prediction) reported its most recent quarterly results before the markets opened on Monday. The Chinese e-commerce company said that it had $0.50 in earnings per share (EPS) and $28.5 billion in revenue, while consensus estimates had called for $0.38 in EPS and $27.45 billion in revenue. The second quarter of last year reportedly had EPS of $0.32 and revenue of $21.47 billion.
During the most recent quarter, total revenues increased 33.8% year over year. This consisted of net revenues from the sales of general merchandise products increasing 45.4% to $9.1 billion and net service revenues increasing 36.4% to $3.2 billion.
Annual active customer accounts increased by 29.9% to 417.4 million in the 12 months ended June, up from 321.3 million in the 12 months ended June 2019. Mobile daily active users in June increased by 40% year over year.
Also in June of this year, the company successfully listed on the main board of the Stock Exchange of Hong Kong under the stock code 9618, with a global offering of 152,912,100 new class A ordinary shares. The Hong Kong-listed shares are fully fungible with JD.com’s American depositary shares (ADSs) listed on the Nasdaq Stock Exchange, based on the ratio of two ordinary shares per ADS.
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JD.com plans to use the net proceeds from the June offering to invest in key supply chain-based technology initiatives to further enhance customer experience and improve operating efficiency.
At the end of the quarter, cash and cash equivalents, restricted cash and short-term investments totaled $17.8 billion.
The company offered no guidance in the release. However, analysts are calling for $0.38 in EPS and $24.01 billion in revenue for the third quarter. For the full year, analysts expect to see $1.32 per share and $102.91 billion.
JD.com stock traded up about 2% early Monday at $63.35, in a 52-week range of $27.47 to $69.18. The consensus price target is $67.54.
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