JD.com results tops estimates

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JD.Com (NYSE: JD) is up 9% after the company announced its financial results for the quarter ending March 31, 2022. The company had sales of $37.8 billion, topping the consensus estimates of $34.8 billion. Earnings per share were $0.4, beating analysts’ estimates of $0.24.

Net revenue of $137.8 billion in Q1 2022

CEO Lei Xu said:

JD.com’s robust supply chain capabilities and technology-driven operating efficiency underpinned our solid performance during the quarter as we continued to deliver healthy growth amidst a challenging external environment. More importantly, we are actively leveraging our core competences to support local communities and enterprises in regions affected by the latest Omicron outbreak.

The supply chain tech-based service provider saw Q1 2022 net revenues of $37.8 billion, up 18 % from Q1 2021. The first quarter of 2022 had net service revenues of $5.6 billion, up 26.3% YoY.

For Q1 2022, the net loss attributable to common stockholders was $0.5 billion, relative to a net income of RMB3.6 billion a year ago. Non-GAAP net income attributable to common stockholders was $0.6 billion, versus RMB4.0 billion in Q1 2021.

The company had a diluted net loss per ADS of $0.30 during the quarter, compared to net income per diluted ADS of RMB2.25 in Q1 2021. On the other hand, non-GAAP diluted net income per ADS was $0.4 compared to RMB2.47 in Q1 2021.

Xu added:

All of our employees are committed to fulfilling our social responsibilities and are encouraged by the deepening trust placed in us by customers and business partners. We will continue to demonstrate our resolve, resiliency and commitment to contribute to society.

JD.Com is seeing user engagement metrics improve.

Annual active user accounts climbed by 16.2% to 580.5 million in the 12 months ending March 31, 2022, up from 499.8 million in the previous year.

Chief Financial Officer Sandy Xu commented:

We are encouraged to see user engagement metrics continue to improve, demonstrating our strengthened brand image and expanded consumer mindshare. We have been implementing disciplined financial control policies while sparing no effort to support our consumers and business partners in this challenging time. Looking ahead, we will continue to execute our business strategies and focus on delivering sustainable high-quality growth in the years ahead.

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