{"id":84950,"date":"2023-11-15T15:23:08","date_gmt":"2023-11-15T20:23:08","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/jd-com-stock-jumps-on-earnings-what-excited-wall-street\/"},"modified":"2023-11-15T15:23:09","modified_gmt":"2023-11-15T20:23:09","slug":"jd-com-stock-jumps-on-earnings-what-excited-wall-street","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=84950","title":{"rendered":"JD.com Stock Jumps on Earnings. What Excited Wall Street."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000800328\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<p>        <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        JD.com<br \/>\n       beat Wall Street\u2019s expectations in the third quarter as the e-commerce group leaned on price competitiveness and operating efficiency, a sign the Chinese tech sector may be able to outrun a slowdown in the world\u2019s second-largest economy.<\/p>\n<p>\n        JD.com<br \/>\n       (ticker: JD) reported earnings of 6.70 Chinese yuan (92 cents) a share on revenue of 247.7 billion yuan ($34.2 billion). Analysts surveyed by FactSet had expected earnings of 5.87 yuan a share on revenue just shy of 247 billion yuan.<\/p>\n<div class=\"paywall\">\n<p>Shares in JD.com were up 6.3% in U.S. trading on Wednesday, with the results likely also buoying shares in<br \/>\n        Alibaba<br \/>\n      (BABA), which gained 3.3%.<\/p>\n<p>The e-commerce group\u2019s third-quarter results mark per-share profit growth of 7% from the same period a year ago, with revenue up 1.7% from 2022 levels. Sure, that\u2019s not the double-digit growth that investors have seen in years past\u2014but it\u2019s pretty remarkable given the context.<\/p>\n<p>China\u2019s economy has slowed in 2023, bucking hopes of a rebound after Covid lockdowns rocked the country in 2022. As a result, consumer spending has hemorrhaged, with retail sales and imports plunging and deflationary forces taking hold\u2014trends that should wreak havoc on JD.com\u2019s core e-commerce business.\u00a0<\/p>\n<p>Instead, JD.com and Alibaba have so far appeared to be weathering the storm, meeting consumers with lower prices and cutting costs to keep profits afloat. You wouldn\u2019t know it from stock prices\u2014shares in JD.com are down 49% this year, with Alibaba stock slipping 2% over the same period\u2014but the proof is there. JD.com\u2019s operating margin for the nine months to the end of September rose to 4.3% from 4% a year ago.<\/p>\n<p>\u201cWe reported steady top-line performance for the quarter with record profitability driven by our proactive efforts on enhancing price competitiveness and platform ecosystem, as well as our supply chain advantages,\u201d said Sandy Xu, JD.com\u2019s CEO.<\/p>\n<p>So far, JD.com\u2019s ability to be competitive on prices and run a lean business are helping the company outrun China\u2019s slowdown. While it may not be possible to continue this trend if the macro picture darkens further, Wednesday\u2019s results will likely only embolden investors that are growing cautiously more optimistic about the outlook for China and the investment case for its stocks.<\/p>\n<p>Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/jd-com-earnings-stock-price-e88062fe?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JD.com beat Wall Street\u2019s expectations in the third quarter as the e-commerce group leaned on price competitiveness and operating efficiency, a sign the Chinese tech sector may be able to outrun a slowdown in the world\u2019s second-largest economy. JD.com (ticker: JD) reported earnings of 6.70 Chinese yuan (92 cents) a share on revenue of 247.7 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":84575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-84950","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JD.com Stock Jumps on Earnings. 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