JD.com Surpasses Q2 Expectations, But Stock Falls With Broader China Index
Portfolio Pulse from Anusuya Lahiri
JD.com reported Q2 FY23 revenue growth of 7.6% YoY to $39.7 billion, surpassing the consensus of $38.7 billion. Non-GAAP net income per ADS of $0.74 also beat the consensus of $0.66. The company's net product revenue grew by 3.5% YoY to $32.25 billion, and net service revenues rose 30.1% YoY to $7.46 billion. JD.com generated $6.14 billion in free cash flow and held $33.5 billion in cash and equivalents. Despite the positive results, the company's stock fell with the broader China index.
August 16, 2023 | 12:30 pm
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JD.com surpassed Q2 FY23 expectations with a 7.6% YoY revenue growth, but its stock fell with the broader China index.
JD.com reported strong Q2 FY23 results, beating expectations on both revenue and net income. However, despite the positive results, the company's stock fell in line with the broader China index. This suggests that external factors, such as market sentiment towards Chinese stocks, may be influencing JD.com's stock price more than its individual performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100