JD.com Inc (JD-SW) shares plummeted 5.08% in the pre-market session on Friday morning, underperforming the broader market despite the e-commerce giant reporting better-than-expected earnings for the fourth quarter ended December 31.
JD.com posted quarterly adjusted earnings of CNY 7.42 per share, surpassing analyst estimates of CNY 6.09. Revenue rose 13.4% year-over-year to CNY 346.99 billion, exceeding expectations of CNY 332.35 billion. The strong results were driven by robust consumer demand, fueled by deep discounts and government subsidies for products like home appliances.
However, concerns emerged around the sustainability of JD.com's revenue growth. A significant portion of the revenue beat was attributed to increased sales of electronics and appliances boosted by the government's trade-in policy, raising questions about the organic growth of the company's core e-commerce business. Additionally, JD.com's expansion into the highly competitive food delivery market may put pressure on profitability in the near term.
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