JD.com Q4 Earnings Surge, Beat View; Stock Up In Pre-market; To Buy Back Up To $3 Bln Of Shares

(RTTNews) - JD.com, Inc. (JD), a provider of supply chain-based technologies and services, Wednesday reported higher earnings and revenue for the fourth quarter compared to the same period last year. Earnings and revenue results beat the Street view.

Following this news, JD shares jumped around 11 percent in premarket activity.

Further, the company may repurchase up to $3.0 billion of its shares over the next 36 months through March 2027, following the expiry of its existing buyback program on March 17.

Quarterly earnings 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. Analysts' estimates typically exclude special items.

Net revenues 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 Street view for revenue is $42.16 billion.

Additionally, the company declared annual cash 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. In pre-market activity, JD shares are trading at $23.70, up 10.54% on the Nasdaq.