China-based JD.com (JD) reported first-quarter results early Wednesday that beat views on the top and bottom lines as revenue jumped 39%. JD stock wavered slightly.
The e-commerce giant reported adjusted earnings of 38 cents a share on revenue of $31 billion. Analysts expected JD.com to report earnings of 35 cents on revenue of $29.8 billion. Revenue jumped 39% from the year-ago period.
JD stock climbed 0.9%, near 70.10, during morning action on the stock market today. Earlier, shares were down slightly.
The company said annual active customer accounts climbed 29% to 499.8 million.
JD.com has numerous business units and offers a vast selection of products across every major category. Its core e-commerce business sells electronics, apparel, home furnishings and appliances, among other products, as well as fresh food and groceries.
JD Stock: Diversified Revenue Streams
“As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues,” said Sandy Xu, chief financial officer, in written remarks with the JD.com earnings release. “JD Retail’s operating margin further expanded during the quarter, as we continue to drive stronger operating leverage through technology and innovation.”
Alibaba reported mixed quarterly results last week and set a milestone by serving 1 billion active users on its e-commerce platform.
Also, internet and mobile value-added services and advertising provider Tencent reports earnings Thursday morning.
Please follow Brian Deagon on Twitter at @IBD_BDeagon for more on tech stocks, analysis and financial markets.
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