JD.com nearly triples quarterly profit on back of revived consumer spending
JD.com saw its December-quarter profit nearly triple year-over-year, reaching 9.9 billion yuan (US$1.4 billion), driven by increased consumer spending in China. Revenue also increased significantly, reaching 347 billion yuan, a 13.4% increase from the previous year. The company's strong performance led to a surge in its stock prices, with Hong Kong-listed shares rising 8.42% and US pre-market trading up nearly 5%.
The company's CEO, Sandy Xu Ran, attributed the success to double-digit growth in both top-line revenue and bottom-line profit, as well as strong growth in product categories, active users, and shopping frequency. For the full year, JD.com reported a profit of 41.4 billion yuan, a substantial increase from 24.2 billion in 2023, with total revenue reaching 1.159 trillion yuan, up 6.8% from the previous year. Looking ahead, Xu expressed optimism for 2025, citing improving consumption sentiment and the company's strategic priorities.
via SCMP Full Text Feed
JD.com saw its December-quarter profit nearly triple year-over-year, reaching 9.9 billion yuan (US$1.4 billion), driven by increased consumer spending in China. Revenue also increased significantly, reaching 347 billion yuan, a 13.4% increase from the previous year. The company's strong performance led to a surge in its stock prices, with Hong Kong-listed shares rising 8.42% and US pre-market trading up nearly 5%.
The company's CEO, Sandy Xu Ran, attributed the success to double-digit growth in both top-line revenue and bottom-line profit, as well as strong growth in product categories, active users, and shopping frequency. For the full year, JD.com reported a profit of 41.4 billion yuan, a substantial increase from 24.2 billion in 2023, with total revenue reaching 1.159 trillion yuan, up 6.8% from the previous year. Looking ahead, Xu expressed optimism for 2025, citing improving consumption sentiment and the company's strategic priorities.
via SCMP Full Text Feed
