On November 14th, Futu News reported that jd.com announced its third-quarter performance ending on September 30, 2024, with the financial report showing:

• Revenue of 260.4 billion yuan (RMB, the same below), a year-on-year increase of 5.1%;

• Adjusted net income was 13.2 billion yuan, a year-on-year increase of 23.9%.

• Net income was 11.7 billion yuan, a year-on-year increase of 47.8%.

• Earnings per ADS were 7.73 yuan, compared to 5.00 yuan in the same period last year; adjusted earnings per ADS were 8.68 yuan, versus 6.70 yuan in the same period last year.

In terms of business segments, jd.com Retail achieved revenue of 224.986 billion yuan in Q3, compared to 212.059 billion yuan in the same period last year; jd.com Logistics revenue was 44.396 billion yuan, compared to 41.663 billion yuan in the same period last year; revenue from new businesses was 4.97 billion yuan, compared to 6.685 billion yuan in the same period last year.

In the third quarter of 2024, the net cash flow from operating activities was 6.2 billion yuan, a decrease of 21.2 billion yuan from the third quarter of 2023. The cash flow changes were mainly due to cross-quarter payments caused by delayed payments of accounts payable at the end of the third quarter of 2023 and the end of the second quarter of 2024, as well as rapid payments generated to support the trade-in program in order to lock in sufficient inventory.

About Repurchase As of the three months ended September 30, 2024, Tencent purchased a total of approximately 35.9 billion Hong Kong dollars (excluding expenses) on the Hong Kong Stock Exchange to repurchase a total of 94.8974 million shares. The repurchased shares have since been cancelled. The repurchase is aimed at long-term increase in shareholder value.

As of the three-month period ending on September 30, 2024, jd.com repurchased a total of approximately 0.031 billion shares of Class A common stock, with a total amount of approximately 0.39 billion US dollars.

As of the nine-month period ending on September 30, 2024, jd.com repurchased a total of approximately 0.2553 billion shares of Class A common stock, with a total amount of approximately 3.6 billion US dollars.

All such common shares are repurchased from nasdaq and the Hong Kong Stock Exchange according to the company's announced share repurchase plan.

jd.com has fully utilized the authorized repurchase amount under the $3 billion share repurchase plan announced in March 2024, and has adopted and announced a new share repurchase plan in August 2024, effective from September 2024. Under this new share repurchase plan, the company can repurchase shares worth up to $5 billion in the future over a period of 36 months until the end of August 2027.

Editor/ping