Shares of JD.com (NASDAQ:JD) rose sharply on Tuesday. The Chinese e-commerce giant reported strong second-quarter results before the opening bell, and the stock continued to soar when the Trump administration hit "pause" on some of its planned tariffs for goods imported from China.
Second-quarter revenue landed at $21.9 billion, 18% above the dollar-based sales seen in the year-ago period. Adjusted earnings came in at $0.33 per diluted American depositary share, 560% above the result seen in the second quarter of 2018. Your average Wall Street analyst would have settled for earnings near $0.07 per ADS on roughly $20.9 billion of top-line sales.
The company enjoyed broad-based gains across all of its business segments, led by particular strength in the JD Logistics shipping and supply-chain services.
"Our net revenues exceeded the upper end of our guidance, and we achieved record high operating profit in a heavily promotional season," said CFO Sidney Huang in JD's second-quarter earnings call.
In the light of this solid report, it's no surprise to see Mr. Market taking JD's shares higher today.