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JD.com's stock surges on heavy volume after earnings beat

Tomi Kilgore

Shares of JD.com Inc. surged 6.7% in active premarket trading Tuesday, after the China-based e-commerce company reported second-quarter earnings that beat expectations. Trading volume topped 1.3 million shares, making the stock the most actively traded ahead of the open. The company swung to net income of RMB618.8 million ($90.14 million), or RMB0.36 a share, from a loss of RMB2.21 billion a year ago. Excluding non-recurring items, adjusted EPS was RMB2.30, or 33 cents in U.S. dollars, which beat the average analyst estimate of 6 cents, according to FactSet. Revenue rose 22.9% to RMB150.28 billion ($21.89 billion) from RMB122.29 billion, which topped the FactSet consensus of $20.87 billion. Product revenue rose 20.8% and net service revenue grew 42.0%. The stock has jumped 29.8% year to date through Monday, while the S&P 500 has advanced 15.0%.