$JD, a name I’ve been harping on inside Exodus, continues to show it has the growth. The company reports another surprise quarter and talks about the idea of spinning off their finance division. This continues to be a hold for me. Here are some notes from the report:
JD.com Inc (JD.O), China’s second-largest e-commerce firm, said on Tuesday its third-quarter revenue grew 38 percent from a year ago, slightly ahead of analysts’ expectations.
The rise, along with fourth-quarter predictions that could potentially end a recent trend of slowing growth, sent the company’s U.S.-listed shares higher in pre-market trading.
The online shopping firm, whose shares have fallen 26.5 percent this year against a 10.5 percent rise for larger rival Alibaba Group Holding Ltd (BABA.N), also said it aims to restructure its finance unit and hold no equity stake.
JD.com in August forecast third-quarter revenue of 59-61 billion yuan, amid concerns that China’s retail sector would be hit by a slowing economy. READ MORE
