Chinese e-commerce giant JD.com saw its December-quarter profit nearly triple from a year earlier on the back of increased consumer spending in the world's second-largest economy.

The Beijing-based company on Thursday reported a better-than-expected profit of 9.9 billion yuan (US$1.4 billion) in the fourth quarter, up from 3.4 billion yuan in the year-earlier period.

Revenue reached 347 billion yuan, up 13.4 per cent from 306 billion yuan a year ago.

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JD.com's shared were up nearly 5 per cent in pre-market trading in the US. Its Hong Kong-listed shares rose 8.42 per cent to close at HK$179 on Thursday before the firm's latest financial results were released.

"Our top-line growth returned to double digits year-on-year, and the bottom line also achieved healthy expansion," JD.com chief executive Sandy Xu Ran said in a statement. "In addition, most of our product categories as well as key metrics, such as our quarterly active users and shopping frequency, saw strong double-digit growth year-on-year in the fourth quarter."

For the full year, JD.com reported profit of 41.4 billion yuan, compared to 24.2 billion for 2023. Total 2024 revenue reached 1.159 trillion yuan, a 6.8 per cent increase from 1.085 trillion yuan a year earlier.

"We head into 2025 with more optimism, as consumption sentiment steadily picks up, and we continue to unlock high-quality growth potential with our strong execution of strategic priorities," Xu said.

JD.com chief executive Sandy Xu Ran. Photo: EPA alt=JD.com chief executive Sandy Xu Ran. Photo: EPA>

JD.com offered a cash dividend of US$0.5 per share, up from US$0.38 in 2023. The aggregate amount of the dividend is expected to be about US$1.5 billion.

The company's strong financial results reflect rising domestic consumption in China, bolstered by policy support from Beijing.

According to the Chinese government's latest work report to the annual meetings of the top legislature and main advisory body - together known as the "two sessions" - that kicked off on Wednesday, total retail sales in the country rose 3.5 per cent, while online channel sales grew higher at 6.5 per cent.

In a research note on Thursday, Jefferies analysts Thomas Chong and Zoey Zong said JD.com's quarterly earnings "beat consensus and our expectations".

By business segment, JD Retail grew 14.7 per cent, which beat Jefferies' estimate of 11 per cent. Electronics and home appliances under this unit grew 15.8 per cent, surpassing Jefferies' 11.1 per cent forecast.

To stimulate consumer spending on electronic devices and home appliances, a category that JD.com is well-known for, Beijing revamped its consumer products trade-in programme. A 15 per cent subsidy, for example, is provided for purchases of digital products - including smartphones, tablets and smartwatches - that cost under 6,000 yuan.

In an earnings call on Thursday, Xu said that policy has "driven steady recovery in consumer confidence". She pointed out that smartphone sales recovered, while laptop demand "saw robust growth momentum".

In addition, JD.com has expanded into other areas. Earlier this month, the company announced its foray into the food-delivery services segment, which is dominated by Meituan and Alibaba Group Holding's Ele.me. Alibaba owns the Post.

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