JD.com Q1 Results: Revenue and EPS Beat, Adjusted EBITDA Growth, CEO Credits Focus on User Experience and More - Latest Global News

JD.com Q1 Results: Revenue and EPS Beat, Adjusted EBITDA Growth, CEO Credits Focus on User Experience and More

JD.com Q1 Results: Revenue and EPS Beat, Adjusted EBITDA Growth, CEO Credits Focus on User Experience and More

JD.com, Inc. (NASDAQ: JD) reported 7% year-over-year revenue growth to $36.02 billion for the first fiscal quarter of 2024, beating analysts’ consensus estimate of $35.62 billion.

JD reported adjusted net income per ADS of $0.78, beating analyst consensus estimates of $0.64. The share price rose following the results.

JD segment performance: JD.com’s net product sales rose 6.6% year over year to $28.88 billion. Net services revenue increased 8.8% year-over-year to $7.14 billion.

JD’s retail sales rose 6.8% year-over-year to $31.42 billion, logistics sales rose to $5.84 billion and new business sales fell to $675 million.

JD.com’s marketing spending rose 15.6% to $1.30 billion in the first quarter and accounted for 3.6% of revenue. The increase was mainly due to increased spending on promotional activities, including sponsorship of the Spring Festival Gala.

Margin: Operating margin was 3.0% for the quarter, compared to 2.6% year over year. Adjusted operating margin improved 20 basis points year-over-year to 3.4%. JD Retail’s operating margin was 4.1%, compared to 4.6% year-on-year.

Adjusted EBITDA increased 13.6% year over year to $1.50 billion, with a margin of 4.1%.

JD.com used $2.14 billion in free cash flow, $1.57 billion in operating cash flow during the quarter and had $24.8 billion in cash and equivalents as of March 31, 2024.

Sandy

JD.Com shares have lost over 11% in the last 12 months.

Investors can get in touch via JD.com Invesco Golden Dragon China ETF (NASDAQ:PGJ) and Global X E-Commerce ETF (NASDAQ:EBIZ).

Price promotion: At last check on Thursday, JD shares were trading 4.43% higher at $35.10 in the pre-market session.

Photo via Wikimedia Commons

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This article: JD.com Q1 results: Revenue and EPS beat, adjusted. EBITDA Growth, CEO Credits Focus on User Experience And More originally appeared on Benzinga.com

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