JD.com | $JD (+0%) Q3'24 Earnings Highlights:
🔹 Revenue: ¥260.4B (Est. ¥259.7B) 🟢; UP +5.1% YoY
🔹 Non-GAAP EPS: ¥8.68 (Est. ¥6.70) 🟢; UP +29.5% YoY
🔹 Non-GAAP EBITDA: ¥15.1B (Est. ¥13.8B) 🟢; UP +17% YoY
🔹 EBITDA Margin: 5.8%, UP from 5.2% YoY
🔹 Free Cash Flow: -¥13.8B
Operational Highlights:
🔹 Net Product Revenue: ¥204.6B; UP +4.8% YoY
🔹 Net Service Revenue: ¥55.8B; UP +6.5% YoY
🔹 Operating Income: ¥12.0B;
🔹 Operating Margin of 4.6%, UP from 3.8% YoY
🔹 Gross Margin and Net Margin improved due to scale and cost efficiencies, with a Non-GAAP Net Margin of 5.1% vs. 4.3% YoY
Q3 Segment Revenue:
🔹 Electronics & Home Appliances: ¥122.6B; UP +2.7% YoY
🔹 General Merchandise: ¥82.1B; UP +8.0% YoY
🔹 JD Retail: ¥224.99B
🔹 JD Logistics: ¥44.4B, UP +6.6% YoY
🔹 New Businesses: ¥5.0B, DOWN -25.7% YoY
Outlook:
🔸 Continued investment in supply chain capabilities to drive scale benefits, while furthering user growth, engagement, and market competitiveness through targeted promotions and partnerships.
Business Highlights:
🔸 JD Retail Expansion: Strong growth in general merchandise, with new offerings in apparel and accessories, and strong Singles Day promotional response.
🔸 JD Logistics: Expanded collaboration with Taobao and Tmall, integrating logistics services.
🔸 JD Health: Broadened medical insurance payment capabilities across 12 cities.
🔸 Environmental, Social, and Governance (ESG): Improved ESG score and initiatives in governance, employee support, and supplier management.
Shareholder Returns:
🔹 Completed a $3B share repurchase program in Q3 and launched a new $5B repurchase program through August 2027
