Shares of JD.com Inc. JD, +6.59% rose 1.3% in premarket trading Monday, after the Beijing-based e-commerce company reported third-quarter profit and sales that rose above expectations. Net income rose to RMB7.6 billion ($1.1 billion), or RMB4.70 per American depositary shares, from RMB600 million, or RMB0.41 per ADS, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to RMB3.42 from RMB2.08, above the FactSet consensus of RMB2.71. Revenue grew 29.2% to RMB174.2 billion ($25.7 billion), beating the FactSet consensus of RMB169.72 billion, as sales of general merchandise increased 34.8% to RMB58.1 billion and net service revenue rose 42.7% to RMB22.8 billion. Annual active customer accounts increased 32.1% to 441.6 million in the 12 months ended Sept. 30, and fulfilled gross margin improved to 8.7% from 8.4%. “Today, as China emerges from the pandemic, we are glad to see that our business partners are recovering rapidly with the support of our online and offline supply chain infrastructure,” said Chief Executive Richard Liu. The stock has soared 48.4% over the past three months, while the iShares MSCI China ETF MCHI, +0.90% has advanced 11.3% and the S&P 500 SPX, +1.36% has gained 6.3%.
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