US Earnings Update: Macy’s JD.Com and Alibaba latest

Macy’s, JD.Com, Alibaba (Baba) Q3 Earnings – Talking Points

• Macy’s stock surges as Q3 results smash estimates
• Chinese ecommerce giant’s Alibaba (Baba) suffers after China regulations weigh on earnings
• JD.Com Q3 earnings beat estimates, revenue rises by $34.27

MACY’S EARNINGS REPORT:

• Revenue: $5.4bn vs $5.2bn expected
• Earnings per share (EPS): $1.23 (adj) vs $0.31 expected

US retailer Macy’s Q3 results beat estimates after the department store announced that it had acquired approximately 4.4 million new customers in the last quarter. With growth rates expected to continue to rise into Q4, the stock rallied upon the release and may likely continue to do so into the main session.

What is earnings season and what to look for in an earnings report?

MACY’S 5 MIN CHART

Chart prepared by Tammy Da Costa using TradingView

JD.COM EARNINGS REPORT:

• Revenue: $34.27 bn vs $33.59 bn expected
• Earnings Per Share (EPS): $0.49 vs $0.32 (est)

JD.Com Q3 earnings beat expectations as the company announced an increase in net revenues of $33.9 bn for the third quarter, an increase of 43.3% from the same period last year.

JD.Com 5 Min Chart

Chart prepared by Tammy Da Costa using TradingView

ALIBABA GROUP (BABA) EARNINGS REPORT:

• Revenue: 200.69 billion yuan ($31.4 billion) vs. 204.93 billion yuan estimated, a 29% year-on-year rise.
• EPS: 11.20 yuan vs. 12.36 yuan estimated, a 38% year-on-year decline.

Chinese e-commerce giant Alibaba Group Holding Limited (NYSE: Baba) missed Q2 earnings and revenues estimates as increased regulations by China on the tech industry and geopolitical tensions continued to weigh on risk sentiment. With China’s economic growth expected to remain relatively low, the tech giant is expected to face additional challenges for the remainder of the year.

BABA 5 Min Chart

Chart prepared by Tammy Da Costa using TradingView

--- Written by Tammy Da Costa for DailyFX.com

Contact and follow Tammy on Twitter: @Tams707