JD.com Likely to Beat 2Q Earnings Estimates -- Market Talk

Dow Jones07-25

0747 GMT - JD.com's 2Q earnings may beat estimates, thanks to its more disciplined marketing strategy, Deutsche Bank analyst Jessie Xu writes in a note. The company's focus on user engagement, which is translating into a rise in active users and purchase frequency, should continue to support its growth, Xu adds. Deutsche Bank expects the Chinese e-commerce company's 2Q net profit to rise 14% on year to CNY9.8 billion. However, it lowers its revenue forecasts for 2024 to 2026, citing expectations that consumption demand will weaken. Deutsche Bank cuts the target price to HK$156.00 from HK$168.00 for H shares and to US$40.00 from US$43.00 for ADRs. JD.com's H shares and ADRs are last at HK$99.30 and US$25.76, respectively. (jiahui.huang@wsj.com; @ivy_jiahuihuang)

(END) Dow Jones Newswires

July 25, 2024 03:47 ET (07:47 GMT)

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