Alibaba Rival Clocks Over 11% Revenue Growth In Q3 Backed By Rural SMEs

JD.com, Inc (NASDAQ: JD) reported third-quarter FY22 revenue growth of 11.4% year-on-year to $34.2 billion, missing the consensus of $34.4 billion.
JD Segment Performance: JD.com's net product revenue grew 5.9% Y/Y to $27.7 billion. Net service revenues rose 42.2% Y/Y to $6.5 billion. JD Retail revenue grew 7% Y/Y to $29.8 billion.
Margins: The non-GAAP operating margin expanded by 200 bps to 4.1%.
Also Read: Alibaba Q2 Earnings: Clocks Only 3% Revenue Growth As Economic Slowdown And Regulatory Headwinds Weigh; Approves Additional $15B Buyback
Non-GAAP net income per ADS of $0.88 beat the consensus of $0.63.
JD.com generated $329 million in free cash flow and held $30.7 billion in cash and equivalents.
JD.com's annual active customer accounts increased by 6.5% Y/Y to 588.3 million.
"JD.com's focus on efficiency across various businesses helped drive healthy growth even when the industry continued to face significant challenges," said Lei Xu, CEO of JD.com. "We are pleased that JD.com's high-quality growth is increasingly powered by the millions of SMEs especially in rural industries that look to us for the most efficient supply chain solutions and sustainable growth opportunities."
Price Action: JD shares traded higher by 5.25% at $60.54 in the premarket session on the last check Friday.
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