JD.com Shares Pop On Q3 Beat Backed By Growing Consumer Mindshare

Benzinga2021-11-18
  • JD.com Inc (NASDAQ:JD) reported third-quarter FY21 revenue growth of 25.5% year-on-year to $33.94 billion, marginally beating the consensus of $33.9 billion.
  • JD Segment Performance: JD.com's net product revenue grew 22.9% Y/Y to $28.9 billion. Net service revenues rose 43.3% Y/Y to $5.1 billion.
  • JD Retail revenue grew 23% Y/Y to $30.7 billion.
  • Margins: The non-GAAP operating margin contracted 90 bps to 2.1%. The operating margin of JD Retail remained stable at 4%.
  • Non-GAAP net income per ADS of $0.49 beat the consensus of $0.32. JD.com generated $2.2 billion in operating cash flow and held $30.5 billion in cash and equivalents.
  • JD.com's annual active customer accounts increased by 25% Y/Y to 552.2 million in the twelve months ended September 30. 
  • "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," CFO Sandy Xu said.
  • Price Action: JD shares traded higher by 2.22% at $85 in the premarket session on the last check Thursday.
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