JD.com (JD) Stock Is Up Today on Earnings Beat
NEW YORK (TheStreet) -- Shares of JD.com (JD) - Get Report were gaining 1.3% to $28.52 with heavy trading volume Tuesday after the Chinese online retailer beat analysts' estimates for earnings in the fourth quarter.
JD.com reported earnings of one cent a share for the fourth quarter, beating analysts' estimates of a loss of 2 cents a share. The company reported revenue of $5.6 billion for the fourth quarter, compared to analysts' estimates of $5.3 billion for the quarter.
The online retailer said it expects revenue of 34.8 billion yuan to 35.8 billion yuan (about $5.55 billion to $5.71 billion) for the first quarter, representing 54% to 58% increase from the year-ago quarter. Analysts expect revenue of $5.6 billion for the first quarter.
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"We recorded stronger than expected top line growth and healthy margin improvement in the fourth quarter, underscoring the success of our sustained emphasis on customer experience and operational efficiency," CFO Sidney Huang said in a statement. "As we move into 2015, we will continue to invest in long-term growth, including enhancing our brand awareness, expanding our fulfillment capability and broadening our product offerings."
About 16.7 million shares of JD.com were traded by 12:15 p.m. Tuesday, above the average trading volume of about 7.4 million shares a day.