Finance

Alibaba Rival JD.com Clocks Over 7% Revenue Growth In Q4; Surpasses RMB 1T In Annual Revenue

03/09/2023
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  • JD.com, Inc (NASDAQ: JD) reported fourth-quarter FY22 revenue growth of 7.1% year-on-year to $42.84 billion, beating the consensus of $42.73 billion.

  • JD Segment Performance: JD.com’s net product revenue grew 1.2% Y/Y to $34.4 billion. Net service revenues rose 40.3% Y/Y to $8.4 billion. JD Retail revenue grew 3.6% Y/Y to $37.5 billion.

  • Margin: Non-GAAP operating margin expanded by 150 bps to 2.5%.

  • Non-GAAP net income per ADS of $0.70 beat the consensus of $0.50.

  • JD.com generated $1.75 billion in free cash flow and held $32.8 billion in cash and equivalents.

  • Dividend: The board approved a cash dividend of $0.31 per ordinary share, or $0.62 per ADS.

  • “While 2022 posed many challenges for JD.com and China as a whole, we delivered solid operational results and surpassed 1 trillion RMB in annual revenue for the first time,” said Lei Xu, CEO of JD.com. “I am confident that JD.com will play an even larger role in China’s economic development while delivering strong returns for our shareholders in the years ahead.”

  • Price Action: JD shares traded lower by 0.23% at $46.87 in the premarket session on the last check Thursday.

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This article Alibaba Rival JD.com Clocks Over 7% Revenue Growth In Q4; Surpasses RMB 1T In Annual Revenue originally appeared on Benzinga.com

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Source: https://finance.yahoo.com/news/alibaba-rival-jd-com-clocks-134814166.html