"Big Banks" Citigroup: JD.com's total revenue and non-GAAP net profit in the third quarter both exceeded expectations, maintaining a "Buy" rating

AASTOCKS
2025.11.14 06:58

Citigroup published a research report indicating that JD.com (09618.HK)(JD.US) achieved a total revenue of RMB 299.1 billion in the third quarter, a year-on-year increase of 14.9%, surpassing the bank's and market forecasts by 3.8% and 1.6%, respectively. The non-GAAP net profit reached RMB 5.8 billion, also exceeding the bank's and market forecasts by 16.1% and 39.5%.

The bank further mentioned that by business segment, JD.com's revenue from electronics and home appliances grew by 4.9% year-on-year to RMB 128.6 billion, exceeding the bank's forecast by 1%; general merchandise revenue increased by 18.8% year-on-year to RMB 97.5 billion, surpassing the forecast by 3.3%. JD.com's retail business revenue rose by 11.4% year-on-year to RMB 250.6 billion.

The bank maintains a target price of $44 for the group's U.S. stock and a "Buy" rating

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