16 Aug 2024 CMB International Global Markets | Equity Research | Company Update JD.com (JD US) Stringent ROI target on investments brings better-than-expected 2Q earnings growth JD.com (JD) reported (15 Aug) better-than-expected 2Q24 results: revenue was RMB291.4bn, up 1% YoY, in line with our forecast and Bloomberg consensus; non-GAAP net income was RMB14.5bn, ahead of our forecast/consensus estimates at RMB9.9bn/9.6bn, thanks to stronger-than-expected GPM expansion aided by scale effect, as well as better ...