JD.com Shares Up Following Q3 Earnings Beat

JD.com JD reported third-quarter earnings of 29 cents per share on Friday, which beat the analyst consensus estimate of 17 cents by 70.59%. This is a 141.67% increase over earnings of 12 cents per share from the same period last year.

The company reported quarterly sales of $18.865 billion, which beat the analyst consensus estimate of $18.13 billion by 4.05%. This is a 23.66% increase over sales of $15.255 billion the same period last year.

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"More and more consumers in China's fast-growing lower-tier cities are turning to JD for our superior value and service,” said Richard Liu, the CEO of JD.com in a statement. “We will continue to invest in technology and innovation to meet the growing needs of Chinese consumers and businesses for fast and reliable e-commerce and supply chain solutions."

JD.com shares were trading up 3.3% at $34.68 in Friday’s pre-market session. The stock has a 52-week high of $34.09 and a 52-week low of $19.21.