JD.com Analysts Cut Their Forecasts Following Q2 Results
Portfolio Pulse from Lisa Levin
JD.com reported Q2 FY23 revenue growth of 7.6% YoY to $39.7 billion, beating the consensus of $38.7 billion. Non-GAAP net income per ADS of $0.74 also beat the consensus of $0.66. Despite the positive results, JD.com shares fell 3% to close at $34.88 on Wednesday but added 2% in today's pre-market trading session. B of A Securities and Mizuho lowered their price targets on JD.com following the earnings announcement.
August 17, 2023 | 12:31 pm
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JD.com reported better-than-expected Q2 FY23 results, but its shares fell 3% and then gained 2% in pre-market trading. Analysts from B of A Securities and Mizuho lowered their price targets on the stock.
JD.com reported strong Q2 FY23 results, beating revenue and net income consensus. However, the stock price fell 3% after the announcement, indicating that the market had already priced in the positive results. The stock gained 2% in pre-market trading, suggesting some recovery. Analysts from B of A Securities and Mizuho lowered their price targets on JD.com, which could have a negative impact on the stock price in the short term.
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