JD.com (JD) stock slips 5% despite Q2 earnings beat

JD.com (NASDAQ: JD), a major player in the China e-commerce landscape, reported better-than-expected second-quarter results, although its shares still fell nearly 5% in pre-open Wednesday.

The company's net revenue for the second quarter reached 287.93 billion yuan, indicating a growth of 7.6% compared to the same period last year, and beating the expected 279.92B yuan.

JD.com's adjusted earnings per American depositary receipt (ADR) came in at 5.39 yuan, up from 4.06 yuan in the previous year, and higher than the consensus of 4.92.

The adjusted operating margin improved to 3% from 2.1% year-on-year, nearly meeting the expected margin of 3.1%.

"We reported a solid performance for the second quarter both financially and operationally, thanks to JD.com's enhanced business structure and leading supply chain capabilities," said Sandy Xu, Chief Executive Officer of JD.com.

JD.com shares were down 35.9% year-to-date through Tuesday’s close.

By Senad Karaahmetovic

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