Why JD.com Stock Is Up Today
Shares of China's e-commerce company JD.com (NASDAQ: JD) are 4.4% higher as of 1:54 p.m. ET Thursday, according to numbers from S&P Global Market Intelligence. The move -- in contrast with rival 's stock's tumble today -- is in response to the company's surprisingly solid second-quarter results.
JD turned a little over $4 billion worth of revenue into per-share earnings of $1.13 for the three-month stretch ending in June. Sales were up only slightly on a year-over-year basis, but still topped expectations. Profits, meanwhile, were markedly better than analysts' estimates, nearly doubling JD.com's bottom line from the comparable quarter of 2023.
Although online retailing is by far its single-biggest source of revenue and earnings, its logistics arms actually experienced the most revenue and earnings growth in JD's second quarter.
Source Fool.com
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