JD.com Releases 2024 Q2 Financial Report with Strong Growth
TapTechNews August 15th news, JD.com today released its financial report for the second quarter of 2024. The revenue in the second quarter of 2024 was 291.4 billion Chinese yuan, with a year-on-year increase of 1.2% compared to the second quarter of 2023.
The operating income of JD.com in the second quarter of 2024 was 10.5 billion Chinese yuan (1.4 billion US dollars), while it was 8.3 billion Chinese yuan in the second quarter of 2023.
The net profit in the second quarter of 2024 was 8.7 billion Chinese yuan.
The operating profit margin before unallocated items of JD Retail in the second quarter of 2024 was 3.9%, while it was 3.2% in the second quarter of 2023.
The net profit attributable to common shareholders of the company in the second quarter of 2024 was 12.6 billion Chinese yuan (1.7 billion US dollars), while the net profit attributable to common shareholders of the company in the second quarter of 2023 was 6.6 billion Chinese yuan, with a year-on-year increase of 92.1%.
The net profit margin attributable to common shareholders of the company in the second quarter of 2024 was 4.3%, while it was 2.3% in the second quarter of 2023.
As of June 30, 2024, the operating cash flow for the twelve months was 74.0 billion Chinese yuan (10.2 billion US dollars), an increase of 40.9% compared to 52.5 billion Chinese yuan as of June 30, 2023.
JD.com CEO Xu Ran said in the financial report: We remain committed to the sustainable and high-quality growth of the business in the second quarter. We unswervingly strengthen the supply chain capabilities and user experience, and continue to make JD.com stand out in the Chinese e-commerce industry. By leveraging the growing economies of scale and procurement efficiency, we bring daily low prices to users without sacrificing quality. Combined with the progress we have made in building a thriving platform ecosystem, these efforts have received a positive response from users. The user group has expanded strongly this quarter, and user engagement has increased. Looking forward to the future, we will continue to focus on our own advantages, improve user experience, price competitiveness and platform ecosystem. We believe this is the basis to ensure sustainable growth in the next few years.
TapTechNews noticed that the financial report mentioned that JD.com signed strategic cooperation agreements with Xiaomi, Lenovo, OPPO and other brands in the second quarter to further deepen the cooperation, focusing on areas such as smart devices, smart supply chains, and AI technology integration. JD.com and these brands have set a three-year sales target and will cooperate closely to maximize their respective advantages and find new growth markets.
After the release of the financial report, JD.com's US stocks rose by more than 6% before the market opened, and the company's net revenue in the second quarter was in line with the estimate.
