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JD.com Trades Higher On Q4 Results, Announces CFO Succession

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JD.com Trades Higher On Q4 Results, Announces CFO Succession

JD.com (NASDAQ: JD) reported fourth-quarter earnings of 35 cents per share Monday.

The company reported net fourth-quarter revenue of $24.5 billion, a year-over-year increase of 26.6%. 

JD.com's annual active customer accounts increased by 18.6% from 305.3 million in 2018 to 362 million in 2019, according to the company. Mobile monthly active users in December 2019 increased by 41% year-over-year.  

"We achieved robust top-line growth for the fourth-quarter as Chinese consumers increasingly associate the JD brand with trust and reliability," CEO Richard Liu said in a statement.

"We also saw strong customer growth, especially in China's lower-tier cities, driven by innovative marketing, superior product selection and better customer service."

The company announced management changes.

Sidney Huang, the CFO of JD.com, will retire in September 2020 and Sandy Xu, the senior vice president of JD.com and CFO of JD Retail, will succeed Huang as the CFO of JD.com and report to Liu. 

JD.com Price Action

The stock was trading 5.82% higher at $40.75 at the time of publication in Monday's premarket session. 

The stock has a 52-week high of $43.09 and a 52-week low of $25.48.

Related Links:

JD.com Shares Up Following Q3 Earnings Beat

JD.com Reports Q2 Earnings Beat

 

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