JD.com Stock Is Sliding Today: What's Going On?

Shares of Chinese e-commerce company JD.com Inc JD are moving lower Thursday despite reporting better-than-expected quarterly results. The company noted that it plans to focus on lowering costs and increasing efficiency as it sees challenges ahead.

What Happened: JD.com reported fourth-quarter revenue of RMB295.4 billion ($42.84 billion), which narrowly beat estimates of $42.73 billion according to Benzinga Pro. The company reported quarterly adjusted earnings of 70 cents per share, which beat average analyst estimates of 50 cents per share. On a diluted basis, the company reported a loss of 28 cents per share.

The company announced that its board of directors approved a cash dividend of 31 cents per ordinary share or 62 cents per American depositary share.

"Looking ahead, amidst ever-evolving opportunities and challenges we will stay focused on lowering costs, increasing efficiency and constantly improving user experience," said Lei Xu, CEO of JD.com.

Sandy Xu, CFO of JD.com added: "While we explore new growth opportunities, we will continue our focus on financial discipline and technology-driven operational efficiency to build a solid foundation for JD.com's future high-quality growth."

JD.com is a supply chain-based technology and service provider in China. A conference call to discuss these results kicked off at 7 a.m. ET.

Related Link: Alibaba Rival JD.com Clocks Over 7% Revenue Growth In Q4; Surpasses RMB 1T In Annual Revenue

JD Price Action: JD has traded in a 52-week range of $44.17-$69.43.

The stock was down 5.28% at $44.50 at time of publication, according to Benzinga Pro.

Photo: courtesy of JD.com.