JD.com’s Q1 revenue soars 39% YoY to $31B
JD.com Inc. revealed on Wednesday that its revenue in the first fiscal quarter jumped 39% year-over-year to come in at $31 billion. The e-commerce firm’s income from operations dropped 26.1% during the same period to $0.3 billion, while its net income surged over 227% to $0.6 billion, or $0.34 per share. The number of active customer accounts soared 29% to 499.8 million in the twelve months ending March 31. “As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues,” JD.com CFO Sandy Xu commented.
Target Q1 revenue at $24 billion, up 23.4%
The Target Corporation announced on Wednesday that its total revenue for the first quarter of the fiscal year increased 23.4% year-over-year reaching $24.2 billion. For the same three-month period, the retailer reported a significant rise in its operating income going from $468 million to $2.37 billion, constituting a per annum increase of 407%. Additionally, the company’s diluted earnings per share rocketed to $4.17, up 643.2% from last year’s $0.57, while its comparable sales grew 22.9%. Target’s Chief Executive Officer and Chairman Brian Cornell commented on the report saying: “Store comp sales grew 18.0 percent in the quarter, even as they also fulfilled more than three-quarters of Target’s digital sales – including more than 90-percent growth of our same-day services…market-share gains of more than $1 billion in the first quarter, on top of $1 billion in share gains a year ago, demonstrate Target’s continued relevance with our guests.” Target’s shares jumped 3.67% in premarket trading following the report.