Share prices of JD.com (NASDAQ: JD), China's leading direct retailer and second-largest Chinese e-commerce company after Alibaba, plunged 16% on March 10 following its fourth-quarter earnings report.
JD's revenue rose 23% year over year to 275.9 billion yuan ($43.3 billion), which matched analysts' expectations. Its adjusted net income grew 50% to 3.6 billion yuan ($569 million), or $0.35 per American depository share (ADS), which also topped analysts' estimates by eight cents.
But on a generally accepted accounting principles (GAAP) basis, JD reported a net loss of 5.2 billion yuan ($822 million), compared to a net profit of 24.3 billion yuan ($3.8 billion) a year ago. It also posted its first full-year GAAP net loss since 2018.
Source Fool.com