New Street Research - JD.com Inc. Sponsored ADR Class A (JD) ... New Street: JD 2Q22 Results - Continued Margin Upside into 2H

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New Street Research

Jin Yoon

New Street: JD 2Q22 Results - Continued Margin Upside into 2H

What's new: JD reported 2Q22 results were above consensus and our expectations. Overall business continues to recover on a MoM basis, while 3Q margin could see similar YoY improvement to that of 2Q driven by operating leverage, cost controls, and scaled down investments in New Businesses. We maintain our PT at USD 80.

Analysts:
Jin Yoon

25/08/2022 1 EN

Underlyings

JD.com Inc. Sponsored ADR Class A

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US47215P1066 NASDAQ Stock Market United States

JD.com Inc

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

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Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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New Street: JD 2Q22 Results - Continued Margin Upside into 2H

China Internet: 618 Festival – Evolving consumer trends and continued focus on value for money.

China Internet: JD’s new initiative in on-demand delivery is reshaping FD market dynamics.

JD.com to Hold Annual General Meeting on June 20, 2025

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

CMCSA quick hit: Comcast continues to make the right pricing moves

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