JD.com Q4 EPS Beats by 14.3%, Logistics Up 21.9%, New Biz Grows 200.9%
JD.com reported Q4 non-GAAP EPS of RMB0.57 per ADS (US$0.08), beating estimates by 14.3%, and revenues of RMB352.3 billion (US$50.4 billion), up 1.5% year-over-year. Logistics revenues rose 21.9% to RMB63.5 billion, new businesses surged 200.9% to RMB14.1 billion and customers rose 30% to 700 million, while EBITDA margin highlights higher R&D investment.
1. Q4 Financial Results
JD.com reported non-GAAP EPS of RMB0.57 per ADS (US$0.08) in the fourth quarter, beating estimates by 14.3%, with revenues of RMB352.3 billion (US$50.4 billion), up 1.5% year-over-year.
2. Retail and Services
JD Retail net revenues declined 1.7% to RMB301.9 billion, electronics and home appliances fell 12% to RMB153.3 billion, while general merchandise revenues rose 12.1% to RMB119.7 billion; net service revenues increased 20.1% to RMB79.3 billion.
3. Logistics and New Businesses
JD Logistics revenue grew 21.9% to RMB63.5 billion driven by food delivery, and new businesses revenues jumped 200.9% to RMB14.1 billion led by JD Food Delivery, Jingxi and international expansions.
4. Investments, Margin and Cash Flow
Non-GAAP EBITDA margin turned negative 0.2% due to higher marketing (up 50.6%) and R&D (up 52%) spending; cash and equivalents reached RMB149.6 billion, net cash from operations was RMB20.9 billion and free cash flow was RMB17.3 billion for the quarter, while active customers increased 30% to over 700 million.