JD 3Q24 Results: Outlook Remains Intact
What’s new: JD’s reported 3Q24 revs that were largely in-line with consensus and our estimates, while margins exceed expectations. FY24 outlook remains intact where rev and GMV growth could continue to outpace total retail sales. Non-GAAP net profit could also grow over 20% YoY in FY24 partly driven by continued GM improvement. We maintain our PT at USD70.Analysts:
Jin Yoon
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