JD.com (NASDAQ:JD) shares made small gains as noon approached on Friday.
The company reported third-quarter earnings of 29 cents per share on Friday, which beat the analyst consensus estimate of 17 cents by 70.6%. This is a 141.7% increase over earnings of 12 cents per share from the same period last year.
JD, which boasts a status as China’s leading technology driven e-commerce company and retail infrastructure service provider, reported quarterly sales of $18.865 billion, which beat the analyst consensus estimate of $18.13 billion by 4.1%. This is a 23.7% increase over sales of $15.255 billion the same period last year.
Mobile monthly active users in September 2019 increased by 36% as compared to September 2018. In the third quarter, over 70% of new customers were from lower-tier cities.
CEO Richard Liu was quoted thus, “More and more consumers in China’s fast-growing lower-tier cities are turning to JD for our superior value and service.
“We will continue to invest in technology and innovation to meet the growing needs of Chinese consumers and businesses for fast and reliable e-commerce and supply chain solutions.”
JD.com shares were trading up 19 cents to at $33.76 at the mid-point of the session Friday. The stock has a 52-week high of $34.09 and a 52-week low of $19.21.