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- JD.com Inc (NASDAQ: JD) reported first-quarter FY21 net revenue growth of 39% year-on-year to $31 billion (RMB203.2 billion), beating the analyst consensus of $29.67 billion.
- Net product revenues rose 34.7% to $26.8 billion (RMB175.3 billion) from higher Electronics and home appliances revenues and General merchandise revenues.
- Net service revenues rose 73.1% Y/Y to $4.3 billion (RMB27.9 billion) from higher Marketplace and marketing revenues and Logistics and other service revenues.
- JD Retail revenue rose 35.3% Y/Y to $28.4 million, JD Logistics increased 64.1% Y/Y to $3.4 billion, and New businesses revenue rose 55.7% Y/Y to $786.7 million.
- Annual active customer accounts rose 29% Y/Y to 499.8 million.
- Non-GAAP income from operations rose 6.1% Y/Y to $0.5 billion (RMB3.5 billion). JD Retail operating margin expanded 30 basis points to 4%.
- Non-GAAP operating margin contracted 50 basis points to 1.7%.
- Non-GAAP net income rose 33.3% Y/Y to $0.6 billion (RMB4.0 billion). The margin remained stable at 2%.
- Non-GAAP EPS of $0.38 was at par with the consensus.
- Non-GAAP EBITDA rose 8.9% Y/Y to $0.8 billion (RMB4.9 billion). The margin contracted 70 basis points to 2.4%.
- JD.com used $1.15 billion in operating cash flow and held $21.2 billion (RMB138.8 billion) in cash and equivalents.
- Price action: JD shares traded lower by 2.34% at $68.11 in the premarket session on the last check Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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