JD.com Profit Beats Estimates After Food Delivery Fight Calms

Earnings
โดย Bloomberg·CN·Read original
Summary · why it matters

JD.com reported better-than-expected quarterly profit as its food delivery battle with Alibaba and Meituan cooled down amid regulatory curbs. Net income grew to 7.1 billion yuan, or 1.1 billion dollars, during the quarter ended June, beating the 6.5 billion yuan analysts expected on average, while revenue was 346.4 billion yuan, slightly higher than expectations. CEO Sandy Xu said the improvement was primarily driven by solid profitability in the core JD Retail business and continued narrowing of loss at JD Food Delivery. The company has invested heavily in instant delivery, pledging to reach a 30 percent share of the total market by the end of the year, doubling from the beginning of the year, and Chinese authorities have repeatedly warned against overly aggressive competition and launched investigations against major food delivery players including JD.com. JD has also stepped up expansion beyond its home base, rolling out online retail platform Joybuy and delivery service JoyExpress in Europe, and partnering with brands in Hong Kong, while its offer to acquire Germany's Ceconomy AG was hit by an in-depth subsidy probe from the European Commission.

Impact on stocks 6

Consumer Discretionary± Mixed · 2 stocks
Jd Com Inc
9618
▲ PositiveCapitalrelevance

Quarterly profit beat estimates, driven by core retail profitability and narrowing delivery losses.

Ceconomy AG
CEC
▼ NegativeRegulationrelevance

European Commission launched an in-depth subsidy probe into JD's offer to acquire Ceconomy.

Artificial Intelligence▼ · 2 stocks
Alibaba Group Holding Ltd
9988
▼ NegativeCompetitionrelevance

JD's food delivery competition with Alibaba cooled, but JD's expansion and market share goals intensify rivalry.

Advanced Air Mobility (eVTOL)▼ · 1 stocks
Meituan
3690
▼ NegativeCompetitionrelevance

JD's food delivery battle with Meituan cooled, but JD's aggressive expansion and market share targets pressure Meituan.

Digital Finance & Tokenization▲ · 1 stocks
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