JDcom Announces Second Quarter 2024 Financial Results
Intellectia.AI Updated: 2024-08-15
JD.com Announces Second Quarter 2024 Financial Results
BEIJING, Aug. 15, 2024—JD.com, Inc. (NASDAQ: JD and HKEX: 9618) has reported its unaudited financial results for the second quarter ending June 30, 2024. The following tables summarize key financial metrics.
Key Financial Metrics :
| Metric | Q2 2024 | Q2 2023 | YoY Change (%) | Consensus Estimates |
|---|---|---|---|---|
| Total Revenue | RMB291.4 billion (US$40.1 billion) | RMB287.9 billion | +1.2% | $40.94B |
| Net Income Attributable to Shareholders | RMB12.6 billion (US$1.7 billion) | RMB6.6 billion | +92.1% | --- |
| Non-GAAP Net Income | RMB14.5 billion (US$2.0 billion) | RMB8.6 billion | +69.0% | --- |
| Diluted EPS | RMB8.19 (US$1.13) | RMB4.15 | +97.3% | $0.85 |
| Non-GAAP Diluted EPS | RMB9.36 (US$1.29) | RMB5.39 | +73.7% | --- |
| Operating Margin | 3.6% | 2.9% | +0.7 pp | --- |
The financial performance reflects a modest growth in revenue, up 1.2% year-over-year, despite challenging conditions in certain categories. The significant increase in net income and EPS highlight improved operational efficiencies and strong cost management.
Segment Revenue Performance :
| Segment | Q2 2024 Revenue (RMB) | Q2 2023 Revenue (RMB) | YoY Change (%) |
|---|---|---|---|
| JD Retail | RMB243.0 billion | --- | --- |
| JD Logistics | RMB41.0 billion | --- | --- |
| New Businesses | RMB7.4 billion | --- | --- |
JD Retail continues to lead segment performance, supported by strategic partnerships and strong e-commerce growth. JD Logistics has made notable strides in operational efficiency, significantly enhancing profitability. New Businesses, though a smaller segment, have shown promising potential.
Operational Data :
| Data Point | Value |
|---|---|
| Operating Cash Flow | RMB74.0 billion |
| Free Cash Flow | RMB55.6 billion |
| Cash & Short-term Investments | RMB209.5 billion |
Comments from Company Officers : CEO Sandy Xu emphasized JD.com’s commitment to sustainable growth, highlighting advancements in supply chain capabilities and user experience. CFO Ian Su Shan noted improvements in gross margin and record-high non-GAAP operating profit, affirming JD.com’s disciplined approach.
Share Repurchase Program : JD.com repurchased 136.8 million Class A ordinary shares during the quarter, and has bought back a total of 224.3 million shares year-to-date, having expended approximately US$2.6 billion of its US$3.0 billion share repurchase program.
Forward Guidance : The company has not disclosed specific forward guidance. Management remains focused on enhancing user experience and fortifying its platform ecosystem for sustainable growth.
Stock Price Movement : Following the earnings release, JD.com's stock observed a price movement increase of 2.36%.
JD.com’s strategic initiatives and financial stewardship are poised to maintain its stronghold in China’s e-commerce landscape while delivering value to its stakeholders.
