JD.com reports 5.1% revenue growth in Q3 2024

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JD.com, Inc. reported a 5.1% year-on-year increase in net revenues, reaching RMB 260.4 billion ($36 billion) for the third quarter of 2024. Additionally, JD.com’s general merchandise sector saw robust growth, driven by improved user experiences and a successful Singles Day promotion, according to the company. JD also completed a share repurchase program during the period, purchasing approximately $390 million worth of shares in Q3 2024. Looking forward, the firm said it plans to continue investing in its supply chain and expanding its user base, with a new $5 billion share repurchase program running through 2027. JD.com’s total cash reserves stood at RMB 196.8 billion ($28 billion) as of September 30, 2024.