JD stock rises after profits pass and dividends start, while revenue rises slightly

The US-listed shares of JD.com Inc.
JD,
+0.88%

jumped 1.0% in premarket trading on Thursday, after the China-based e-commerce company beat fourth-quarter profit expectations and started paying a dividend, but fell short of expectations. revenue. The company achieved net income of RMB 3.03 billion ($441 million), or RMB 1.91 per American depository share (ADS), from a loss of RMB 5.17 billion, or 3. 33 RMB a share in the same period last year. . Excluding non-recurring items, adjusted earnings per AD were RMB 4.81, beating FactSet consensus of RMB 3.57. Revenue rose 7.1% to 295.45 billion yuan ($42.84 billion), well below FactSet consensus of 296.43 billion yuan, as net product sales rose 1.2. % while net revenue from services increased by 40.3%. “In the future, amid constantly evolving opportunities and challenges, we will focus on reducing costs, increasing efficiency, and continuously improving the user experience,” said CEO Lei Xu. Separately, the company that holds ADS since April 6 will be paid a dividend of 62 cents per ADS on May 4. JD said it plans to adopt an annual dividend policy starting from in 2023. Shares of JD have fallen 19.4% in the past three months through Wednesday, while the iShares MSCI China exchange-traded fund
MCHI,
-0.76%

fell 0.7% and the S&P 500
SPX,
+0.14%

increased by 1.5%.