Overview
- The company reported 299.1 billion yuan in revenue, up 14.9% year over year and ahead of analyst estimates.
- Net income fell to 5.3 billion yuan from 11.7 billion a year earlier, while adjusted profit of 5.8 billion yuan beat the 4.23 billion forecast.
- Marketing expenses rose 110.5% to roughly $3.0 billion, pushing operating margin to negative 0.4% and adjusted operating margin to 0.1%, as JD Retail held a 5.9% margin.
- Annual active customers surpassed 700 million in October with higher shopping frequency, and the food-delivery unit grew orders while requiring less sequential investment thanks to improving unit economics.
- Government appliance trade-in subsidies bolstered sales on the platform, and U.S.-listed shares climbed nearly 5% in premarket trading.