JD.com Jumps In Pre-market On News Of Share Repurchase, Q4 Results Better Than View

(RTTNews) - Shares of JD.com, Inc. (JD) are rising more than 11 percent in pre-market on Wednesday after announcing a share buyback to the tune of $3 billion. The Chinese E-commerce giant also posted upbeat fourth-quarter results above the Street expectations.

Earnings for the fourth quarter increased 11.8 percent to RMB 3.4 billion or $0.5 billion from RMB 3.0 billion or $0.4 billion in the last year.

Earnings per ADS grew to RMB 2.13 per share or $0.30 per share from RMB 1.91 or $0.28 per share in the previous year. Excluding items, earnings per ADS were RMB 5.30 or $0.75 per share compared with RMB 4.81 or $0.70 per share in the previous year.

On average, 17 analysts polled by Thomson Reuters expect earnings of $0.63 per share for the quarter.

Revenue for the quarter rose 3.6 percent to RMB 306.1 billion or $43.1 billion from RMB 295.45 billion or $42.8 billion in the prior year. The consensus estimate was $42.16 billion.

Additionally, the company declared annual dividend of $0.38 per share or $0.76 per ADS, payable on April 23 for ordinary shareholders and on April 29 for ADS holders.

JD.com shared had closed at $21.44, down 2.01 percent on Tuesday. The stock has been trading in the range of $20.82 - $47.41 in the last 52 weeks.