JD.com Earnings Trounce Views In Second Quarter, Sending Shares Higher
Brian Deagon, Investor's Business Day
Aug 13, 2019
China e-commerce giant JD.com (JD) on Tuesday crushed analyst expectations for earnings in the second quarter. The JD.com earnings news sent its U.S. shares higher in early trading.
The Beijing-based company earned an adjusted 33 cents per American depositary share on revenue of $21.9 billion. Wall Street expected earnings of 9 cents a share on revenue of $21.7 billion, according to Zacks Investment Research.
JD.com stock jumped 6%, near 28.55, in morning trading on the stock market today.
For the current quarter, JD.com expects sales to rise 20% to 24% year over year. Analysts were looking for third-quarter revenue of $18.6 billion, up 21.9%, Zacks said.
JD.com Touts 'Superior Business Model'
"Highlighted by our successful June 18th anniversary sales event, JD's strong performance in the second quarter further demonstrated the resilience of our superior business model in a highly competitive industry," Chief Executive Richard Liu said in a news release...