JD.com Shares Soared 18.6% Following Impressive Quarterly Results
JD.com starts to make changes
Shares of the Chinese e-commerce company rose on better-than-expected earnings results. Shares of JD.com (NASDAQ: JD) were moving higher today after the Chinese e-commerce company delivered better-than-expected results in its fourth-quarter earnings report.
- The quarter showed that JD is still struggling in an increasingly competitive environment where the Chinese consumer is weak, but its revenue growth accelerated modestly from the third quarter, and some of its recent strategic changes seem to be yielding results.
What's next for JD.com
JD.com doesn't give guidance, but the stock seemed to be trading near rock bottom before this morning's earnings report. It's been challenged by intensifying competition from PDD Holdings' Pinduoduo, and it's adapting by selling lower-priced goods and offering more discounts. There's still potential for a recovery, but investors would certainly like to see revenue growth improve to much better than 3.6%.
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