JD.Com (NYSE:JD) releases earnings on Thursday as the stock looks for a breakout.
JD – Daily Chart
JD stock has been struggling since May, but a move above 33.24 on the U.S. ADR starts a new rally.
JD.com will report Q2 results on Thursday, and analysts expect earnings per share of $0.49, down 62% year over year, with revenue of $46.69B, up 16.4%. The Chinese e-commerce company has delivered strong earnings in recent months, beating EPS estimates in each of the last eight quarters.
However, market sentiment on the company’s profitability has weakened. Investors will be scanning the latest earnings for commentary on China’s macroeconomic environment, consumer spending trends, and the performance of JD’s retail, logistics, and new business segments.
The company delivered a strong result in its first-quarter earnings report, citing strong user growth, momentum in its core JD Retail business, continued enhancements to its supply chain capabilities and user experience, and improving consumer sentiment.
The latest earnings will be a test of the stock price as it hovers near a key level.