What happened
Shares of JD.com (JD +1.34%) 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.
So what
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.
Image source: Getty Images.
Now what
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.
