By Senad Karaahmetovic
Shares of JD.com (NASDAQ:JD) are up 4% in pre-open Tuesday after the Chinese e-commerce company reported very strong results.
JD reported net revenue of 267.60 billion yuan to easily beat the estimate of 261.67 billion yuan. Adjusted earnings per American depositary receipts came in at 4.06 yuan to crush the 2.81 yuan consensus.
“We were pleased to post topline growth that outpaced the industry during a challenging period, as well as healthy profitability and cash flow,” said Sandy Xu, Chief Financial Officer of JD.com.
“We will continue to focus on generating strong shareholder returns while maintaining our commitment to investing for the long term,” he added.
Jefferies analysts reiterated a Buy rating on JD stock with a $115 per share price target on “stronger-than-expected results” which were driven by the company’s JD Retail segment.
Similarly, Vital Knowledge analysts praised a “huge EPS beat” driven by strong sales and “expense controls.”