JD.com reported a 5.1% revenue increase and significant profit growth for Q3 2024, driven by improved consumer sentiment.
Quiver AI Summary
JD.com reported its third-quarter financial results for 2024, showing a net revenue increase of 5.1% year-over-year to RMB 260.4 billion (US$137.1 billion). Operating income rose by 29.5% to RMB 12.0 billion, with an operating margin of 4.6%. Net income attributable to ordinary shareholders surged 47.8% to RMB 11.7 billion, resulting in a diluted net income per American Depositary Share (ADS) of RMB 7.73 (US$1.10). The company's growth was attributed to improved consumer sentiment and strong performance in general merchandise, particularly during the Singles Day promotion. Additionally, JD.com announced a new US$5.0 billion share repurchase program, following a previous completion of a US$3.0 billion program. The company highlighted its advances in supply chain and fulfillment capabilities, contributing to its operational and financial progress.
Potential Positives
- Net income attributable to the Company's ordinary shareholders increased by 47.8% year-on-year to RMB11.7 billion (US$1.7 billion) for the third quarter of 2024.
- Diluted net income per ADS rose by 54.6% from RMB5.00 to RMB7.73 (US$1.10) compared to the third quarter of 2023.
- JD.com announced a new US$5.0 billion share repurchase program, signaling strong commitment to returning value to shareholders and confidence in its financial outlook.
- Operating margin improved to 4.6% in Q3 2024, up from 3.8% in Q3 2023, highlighting enhanced profitability and operational efficiency.
Potential Negatives
- Free cash flow for the third quarter of 2024 was negative at RMB (13.8 billion), indicating cash outflows that could impact liquidity and operations.
- Net cash used in operating activities amounted to RMB 6.2 billion, a significant decrease compared to the previous year, which may raise concerns about operational efficiency and financial health.
- Research and development expenses increased by 15.9%, despite a stable operating margin, suggesting potential concerns about investment efficiency and prioritization of resources.
FAQ
What are JD.com's Q3 2024 net revenues?
JD.com reported third-quarter 2024 net revenues of RMB260.4 billion (US$137.1 billion), marking a 5.1% increase year-on-year.
How much did JD.com's net income increase in Q3 2024?
Net income attributable to ordinary shareholders increased by 47.8% to RMB11.7 billion (US$1.7 billion) in Q3 2024.
What is JD.com's latest share repurchase program?
JD.com launched a new US$5.0 billion share repurchase program effective September 2024, following the completion of a previous program.
How did JD.com perform in the electronics sector during Q3 2024?
JD.com experienced a 2.7% increase in revenues from the electronics and home appliances sector for the third quarter of 2024.
What strategic initiatives did JD.com undertake in Q3 2024?
JD.com expanded its trade-in programs and apparel business, enhancing user experience and product selections for better market positioning.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$JD Hedge Fund Activity
We have seen 265 institutional investors add shares of $JD stock to their portfolio, and 231 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- VOLORIDGE INVESTMENT MANAGEMENT, LLC removed 9,197,956 shares (-89.2%) from their portfolio in Q2 2024
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 6,016,886 shares (-93.0%) from their portfolio in Q2 2024
- TWO SIGMA ADVISERS, LP removed 4,467,400 shares (-75.3%) from their portfolio in Q2 2024
- FMR LLC added 4,445,277 shares (+41.0%) to their portfolio in Q3 2024
- NUVEEN ASSET MANAGEMENT, LLC removed 3,578,014 shares (-83.2%) from their portfolio in Q2 2024
- SCHRODER INVESTMENT MANAGEMENT GROUP added 3,482,378 shares (+170.2%) to their portfolio in Q3 2024
- TWO SIGMA INVESTMENTS, LP removed 3,438,063 shares (-76.0%) from their portfolio in Q2 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
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