News

jd quarterly revenue estimates: Chinese retailer JD beats quarterly revenue estimates as heavy discounts buoy demand


Chinese online retailer JD.com reported fourth-quarter revenue above estimates on Wednesday and upsized its share repurchase program, as aggressive price cuts helped revive demand from consumers grappling with an uncertain economy.

The company’s US-listed shares rose 9.4% in premarket trading.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
IIM Lucknow IIML Executive Programme in FinTech, Banking & Applied Risk Management Visit
Indian School of Business ISB Professional Certificate in Product Management Visit
IIM Kozhikode IIMK Advanced Data Science For Managers Visit

China’s shaky economic growth, high youth unemployment and lower wages for office workers have led to consumers tightening their purse strings, driving retailers like JD.com to employ heavy discounts to support sales.

The company reported quarterly net revenue of 306.1 billion yuan ($42.52 billion), compared with analysts’ average estimate of 300.04 billion yuan, according to LSEG data.

Some analysts believe JD.com’s popularity among cost-conscious buyers has grown over the quarter.

Analysts also said the “suspicious practices” that emerged in an internal audit of its Dada Nexus unit are unlikely to have had a sizeable impact on the company’s overall revenue, abating investor concerns.

Discover the stories of your interest


JD.com said it will repurchase up to $3 billion worth of its shares, including American depository shares, over the next 36 months through March 2027. The company reported net income attributable to shareholders of 3.4 billion yuan, up more than 13% from 3 billion yuan a year earlier.



READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.