Why JD.com Stock Opened Lower Today
Shares of JD.com (NASDAQ: JD) opened 5% lower this morning after the company reported first-quarter earnings. The results were mixed compared to Wall Street's forecasts. As of 12:50 p.m. EDT, the stock had reversed course and was up 1%.
Revenue in the first quarter increased 39% to 203.2 billion yuan ($31 billion), topping the consensus estimate of 190.1 billion yuan. That translated into adjusted earnings per share of 2.47 yuan ($0.38), which was shy of the 2.71 yuan per share that analysts were expecting. The Chinese e-commerce technology company said annual active customer accounts grew 29% to 499.8 million. JD.com recently kicked off an IPO to spin off its logistics division, JD Logistics.
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Source Fool.com
