JD.com jumps on earnings, $3B buyback program
Shares of JD.com Inc. (JD) jumped on Wednesday. The Chinese e-commerce company reported fourth quarter results that topped Street estimates. It also announced a $3 billion stock buyback program.
Yahoo Finance's Julie Hyman and Josh Lipton discuss the stock's moves.
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Editor's note: This article was written by Stephanie Mikulich
Video Transcript
JULIE HYMAN: Let's talk about JD.com. Those shares popping after delivering a better than expected rise in revenue. And an earnings beat in the fourth quarter, the online retailer also initiating a $3 billion stock repurchase program.
And that has been something that analysts have really been pointing to as well as something that has been positive. They like that buyback.
Cities Alicia Yap also saying applauding the stepped up repurchase program, I should say. And the company also trying to get its pricing right, just like we're seeing with Foot Locker here in the US ironically JD also having that struggle.
JOSH LIPTON: Also interesting against the backdrop of a domestic Chinese economy, which is shaky with the property crisis, deflation, retail sales, we know there have been coming in weak. So not surprising to maybe we've heard these reports, Julie, that JD is kind of kicking the tires on some opportunities overseas, including the UK.
JULIE HYMAN: Yeah, and by the way, even though sales beat the net income was below estimates. Something interesting to point out.
