JD.com Q3 Earnings Rise; Stock Up In Pre-market

(RTTNews) - JD.com, Inc. (JD), a Chinese chain-based technologies and services provider, on Wednesday reported higher earnings and revenues for the third quarter.

Quarterly net profit attributable to equity holders increased 33.1 percent to RMB 7.9 billion or $1.1 billion from RMB 6 billion or $0.8 billion for the same period last year, on a one-time gain from fair value change long-term investments.

Earnings per ADS rose to $0.69 from $0.50 of last year.

Excluding items, earnings were RMB 10.6 billion or $1.5 billion, compared to earnings of RMB 10 billion or $1.4 billion last year. Adjusted earnings per ADS were RMB 6.70 or $0.92, compared to last year's RMB 6.27.

On average, 17 analysts polled by Thomson Reuters had expected earnings of $0.80 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues grew 1.7 percent to RMB 247.7 billion or $34 billion from RMB 243.5 billion or $34.2 billion in the previous year. The Street view for revenue is $34.61 billion.

Further, the current Chief Executive Officer, Sandy Ran Xu will also serve as CEO of JD Retail, the retail segment of JD.com, effective immediately.

Lijun Xin the former chief executive of JD Retail will assume a different role in the firm.

In pre-market activity, JD shares are trading at $27.83, up 4.19% on the Nasdaq.