JD.com, Inc. (NASDAQ:JD) reported better-than-expected earnings for Q3 2023, with reported EPS of $6.7 compared to expectations of $0.86.
The earnings call began with an introduction from the operator, followed by opening remarks from CEO Sandy Xu and CFO Ian Shan. Sandy Xu highlighted the company's commitment to improving user experience and shared recent highlights, such as expanding free shipping coverage and hosting successful live streaming sessions during the Singles Day Promotion. She also discussed the company's focus on building a differentiated platform ecosystem and improving everyday low price (EDLP) mindshare.
Sandy Xu explained that JD.com aims to provide a superior user experience through its platform ecosystem, which allows both 1P and 3P sellers to thrive and compete. The company encourages 3P merchants to follow the same operating philosophy as 1P suppliers and rewards positive behaviors. She emphasized that JD.com will not drive 3P development at the expense of its 1P business.
Sandy Xu also discussed the company's efforts to improve EDLP mindshare by enhancing price competitiveness and expanding product selection. She clarified that JD.com focuses on offering low prices without compromising product quality or service. The company tracks key customer metrics to measure progress in building EDLP mindshare.
During the Q&A session, analysts had the opportunity to ask questions in Chinese or English, and the management answered in the language asked. The call concluded with closing remarks from Sean Zhang, Director of Investor Relations.