It smashed earnings expectations, but the e-commerce giant’s stock was falling on Wednesday, in a reflection of gloom in Chinese markets amid fears of a slowdown in the world’s second-largest economy.
(Stock ticker: JD) reported earnings per share of 5.39 yuan (74 cents) on revenue of 287.9 billion yuan ($39.5 billion) in the second quarter, beating expectations among analysts surveyed by FactSet for earnings per share of 4.95 yuan. on revenue. 280 billion yuan.
“We reported a strong second quarter performance both financially and operationally,” said Sandy Xu, CEO of JD.com. We are also encouraged to see the number of merchants in our marketplace more than doubled and reached a new record during the quarter, which reflects our efforts to build an outstanding marketplace ecosystem. “
US-listed JD.com shares fell 4.3% in pre-market trading. Chinese stocks were in a sea of red on Wednesday, with peer e-commerce stocks in tow
(BABA) decreased by 1.8%.
Write to Jack Denton at email@example.com