JD.com results tops estimates

JD.Com (NYSE: JD) is up 9% after the company announced its financial results for the quarter ending March 31, 2022. The company had sales of $37.8 billion, topping the consensus estimates of $34.8 billion. Earnings per share were $0.4, beating analysts’ estimates of $0.24.

Net revenue of $137.8 billion in Q1 2022

CEO Lei Xu said:

The supply chain tech-based service provider saw Q1 2022 net revenues of $37.8 billion, up 18 % from Q1 2021. The first quarter of 2022 had net service revenues of $5.6 billion, up 26.3% YoY.

For Q1 2022, the net loss attributable to common stockholders was $0.5 billion, relative to a net income of RMB3.6 billion a year ago. Non-GAAP net income attributable to common stockholders was $0.6 billion, versus RMB4.0 billion in Q1 2021.

The company had a diluted net loss per ADS of $0.30 during the quarter, compared to net income per diluted ADS of RMB2.25 in Q1 2021. On the other hand, non-GAAP diluted net income per ADS was $0.4 compared to RMB2.47 in Q1 2021.

Xu added:

JD.Com is seeing user engagement metrics improve.

Annual active user accounts climbed by 16.2% to 580.5 million in the 12 months ending March 31, 2022, up from 499.8 million in the previous year.

Chief Financial Officer Sandy Xu commented: