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JD.com beats quarterly revenue estimates as heavy discounts buoy demand

Reuters · 1y ago

JD.com beats quarterly revenue estimates as heavy discounts buoy demand

Chinese e-commerce giant JD.com has reported higher-than-expected fourth-quarter revenue, citing aggressive price cuts that have boosted consumer demand amidst a struggling economy. The company's net revenue for the quarter reached 306.1 billion yuan ($42.52 billion), surpassing analysts' average estimate of 300.04 billion yuan. JD.com's shares rose 9.4% in premarket trading following the announcement. The company also announced an increa

Related News

China's JD.com tops quarterly revenue estimates on steady e-commerce demand - The Economic Times

Economic Times

Economic Times · 15d ago

China's JD.com tops quarterly revenue estimates on steady e-commerce demand - The Economic Times

Chinese e-commerce giant JD.com exceeded quarterly revenue expectations, driven by resilient consumer spending fueled by discounts and government subsidies. The company is expanding into Europe by acquiring Ceconomy and entering the food delivery market to compete with Meituan and Alibaba. JD.com benefited from record sales during the 618 festival, with a 15.2% increase in gross merchandise value. The company's total revenue rose 22.4% to 356.66 billion yuan, surpassing analysts' estimates.

Chinese ecommerce giant JD beats estimates for quarterly profit

Economic Times

Economic Times · 1y ago

Chinese ecommerce giant JD beats estimates for quarterly profit

Chinese e-commerce giant JD.com reported better-than-expected quarterly profit, driven by a mid-year sales festival and aggressive price cuts. Competing with other major vendors like Alibaba, JD.com has focused on discounting and offering lower-priced goods to attract cost-sensitive consumers. The company's second-quarter profit, excluding certain items, increased by 73.7% to 9.36 yuan per share, surpassing estimates of 6.07 yuan. JD.com's revenue rose 1.2% to 291.40 billion yuan in the quarter. The company's performance reflects the increasing competition and the need for retailers to rely on discounting events to drive growth.

Expedia beats profit estimates, announces $5 billion share buyback

Economic Times

Economic Times · 1y ago

Expedia beats profit estimates, announces $5 billion share buyback

Online travel booking company Expedia Group has announced a $5 billion share buyback plan following a better-than-expected quarterly profit. The company experienced a boost in demand for international travel, leading to resilient demand and higher rates, which increased margins. The rise in bookings during the Independence and Labor Day holiday weekend also contributed to its strong performance. Expedia's quarterly revenue rose 8.6% to $3.93 billion, surpassing estimates of $3.86 billion. Shares of the company rose by 10% after the announcement.

Chinese retailer JD beats quarterly revenue estimates as heavy discounts buoy demand

Economic Times

Economic Times · 1y ago

Chinese retailer JD beats quarterly revenue estimates as heavy discounts buoy demand

Chinese online retailer, JD.com, has announced higher-than-expected fourth-quarter revenue and an expansion of its share repurchase program. The company's revenue for the quarter reached 306.1 billion yuan ($42.52 billion), surpassing analysts' estimates. JD.com's success is attributed to aggressive price cuts, which have attracted cost-conscious consumers amidst China's uncertain economic climate. The retailer's popularity has also grown, and concerns over an internal audit of its Dada Nexus unit have been alleviated. JD.com plans to repurchase up to $3 billion worth of shares over the next 36 months.

Cisco beats earnings expectations as AI spurs networking gear demand

Economic Times

Economic Times · 9m ago

Cisco beats earnings expectations as AI spurs networking gear demand

Cisco Systems exceeded expectations in its first-quarter results, driven by increasing demand for its networking gear in the midst of the AI boom. The company predicts higher quarterly revenue and profit than anticipated, thanks to investments in AI technologies that require data centers utilizing Cisco's products. To diversify its business, Cisco aims to reduce reliance on its networking equipment division by focusing on areas such as cybersecurity, cloud systems, and AI-driven products. Despite facing supply chain issues and a downturn in demand, the company completed its acquisition of Splunk, enhancing its software business and cybersecurity capabilities. The company expects second-quarter revenue to surpass estimates, along with a rise in adjusted profit per share. Cisco forecasts annual revenue and adjusted profit within an optimistic range.

Nike reports Q1 profit of $1.45 billion, beats estimates

Livemint

Livemint · 1y ago

Nike reports Q1 profit of $1.45 billion, beats estimates

Nike, the world's largest sportswear maker, reported a first-quarter profit of $1.45 billion, beating estimates. Despite missing revenue estimates, the company successfully reduced inventories and forecasted an increase in second-quarter gross margins. Nike plans to focus on running and modern comfort products to capitalize on consumer demand, as well as refresh its basketball shoe portfolio. While North America revenue fell, Nike's share price rose almost 10% in after-market trading.

Chinese ecommerce giants face delicate balance between discounts, profit

Economic Times

Economic Times · 1y ago

Chinese ecommerce giants face delicate balance between discounts, profit

Alibaba and JD.com's upcoming quarterly earnings reports will provide insight into consumer sentiment in China's e-commerce market. Both companies face competition from low-cost platforms such as Pinduoduo and Douyin, as Chinese consumers seek discounts and cheaper shopping options. This presents a challenge for Alibaba and JD.com, which traditionally focused on selling premium products. In response, they are entering the unbranded goods territory, similar to Pinduoduo's strategy. However, this approach may slow revenue growth and erode profit margins. Analysts predict moderate revenue growth for Alibaba and JD.com in the next quarter. Brands are also shifting their focus to live-streaming platforms like Douyin, affecting the profitability of e-commerce sales. The earnings reports will provide insights into these market dynamics.

EBay beats earnings estimates on strong US holiday spending

Economic Times

Economic Times · 1y ago

EBay beats earnings estimates on strong US holiday spending

eBay reported better-than-expected quarterly revenue and profit due to strong consumer spending during the holiday season. The company experienced growth in categories such as refurbished goods and auto parts, and its marketplace is expected to benefit from increased consumer spending. However, eBay CEO Jamie Iannone noted weaknesses in the UK and Germany, highlighting negative e-commerce growth in the latter. The company also announced a $2 billion share repurchase program. Despite job cuts and uncertainties in the economy, eBay's performance surpassed estimates with a revenue of $2.56 billion and adjusted profit per share of $1.07.

Lam Research beats quarterly revenue estimates on surging AI chip demand

Economic Times

Economic Times · 4m ago

Lam Research beats quarterly revenue estimates on surging AI chip demand

Lam Research exceeded Wall Street expectations for third-quarter revenue, driven by strong demand for advanced AI chips, boosting its shares by 4.5% in extended trading. This demand leads major chip manufacturers, like Taiwan Semiconductor Manufacturing Co., to increase orders, benefiting suppliers like Lam. It posted $4.72 billion in revenue, surpassing analyst estimates. Despite U.S. export controls challenges, Lam's outlook remains strong, expecting fourth-quarter revenue of $5 billion. Its systems revenue reached $3.04 billion for the quarter.

Google parent Alphabet beats quarterly revenue estimates

Economic Times

Economic Times · 10m ago

Google parent Alphabet beats quarterly revenue estimates

Alphabet, the parent company of Google, reported better-than-expected third-quarter revenue thanks to strong growth in its digital advertising business and increased demand for its cloud services. Digital ad sales rose to $65.85 billion, while revenue from Google's cloud platform reached $11.35 billion, surpassing analysts' estimates. The company's profit of $2.12 per share also exceeded expectations. Overall, Alphabet experienced a 15% increase in revenue to $88.27 billion during the quarter.

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