JD.com Shares Surge 18% Following Q4 Beat

JD.com Shares Surge 18% Following Q4 Beat March 6, 2024, 12:10 p.m., readers: 6

Shares of JD.com (NASDAQ:JD) surged 18% intra-day today following the announcement that the Chinese e-commerce giant exceeded fourth-quarter revenue expectations and plans to expand its share buyback initiative. JD.com disclosed a fourth-quarter earnings per share (EPS) of RMB5.30, surpassing the analysts' prediction of RMB4.51. The company's revenue for the quarter reached RMB306.1 billion, beating the projected RMB299.7 billion. Additionally, JD.com unveiled an expansion to its share repurchase program, revealing plans to acquire up to US$3.0 billion of its shares, including American Depositary Shares (ADSs). This buyback is set to occur over the next three years.