By Senad Karaahmetovic
JD.com (NASDAQ:JD) shares trade nearly 5% lower following the company's Q4 earnings report.
The China-based e-commerce giant reported adjusted earnings per American depositary receipts of RMB 4.81 to beat the consensus of RMB 3.61. Revenue came in at RMB 295.4 billion, below the consensus of RMB 296.56B.
The adjusted operating margin was 2.5% while the EBITDA margin came in at 3%.
"While 2022 posed many challenges for JD.com and China as a whole, we delivered solid operational results and surpassed 1 trillion RMB in annual revenue for the first time," said Lei Xu, CEO of JD.com.
The company also announced a cash dividend payout of $0.62 per ADS and said it plans to adopt an annual dividend policy starting in 2023.
"Reflecting our healthy profitability and balance sheet and commitment to shareholder value, we are also pleased to continue to return value to shareholders in the form of a cash dividend," said Sandy Xu, Chief Financial Officer of JD.com.
Citi analysts said JD beat profitability metrics "by large magnitude," mainly due to the cost discipline.