JD 2Q24 Results: 3Q Rev Growth to be Better than 2Q
What’s new: JD’s reported 2Q24 revs that were largely in-line with consensus and our estimates, while margins exceed expectations. As comps start to normalize in key categories such as home appliances, rev growth in 3Q could fare better than 2Q. non-GAAP net profit could also grow by double digits YoY in FY24 partly due to GPM improvement. We maintain our PT at USD70.Analysts:
Jin Yoon
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