The following is a summary of the JD.com, Inc. (JD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• JD.com reported a 7% YOY increase in Q1 2024 net revenues, amounting to RMB260 billion.

• Product revenues, including electronics, home appliances, and general merchandise, grew by 7%.

• Service revenues, comprising logistics and marketing, also expanded by 9% YOY.

• JD Retail and JD Logistics saw revenue increases of 7% and 15% respectively, though JD Retail saw a 5% decrease in non-GAAP operating profit.

• The company repurchased 98.3 million Class A ordinary shares for $1.3 billion, equivalent to approximately 3.1% of the ordinary shares outstanding as of year-end 2023.

Business Progress:

• Growth trends included substantial YOY growth in user shopping frequency and a rapidly expanding active merchant base on the JD.com platform.

• The supermarket category saw double-digit GMV and revenue growth due to significant improvements in procurement capabilities, fulfillment network, and operational efficiency.

• Enhanced user services in the electronics and home appliances categories supported differentiation strategies, which included services such as coordinated delivery and installation of new devices.

• Marking their 10th NASDAQ listing anniversary, the company now employs over 500,000 full-time employees and strives to sustain growth through user experience improvements, pricing competitiveness, and active ecosystem development.

• JD.com is also investing in cloud data infrastructure to support AI platform development and optimize user experiences.

• Looking forward, the company will continue making disciplined investments focused on enhancing user experiences and growing market share while maintaining growth in the FMCG sector.

More details: JD.com IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.