认为京东二季度财报差的
一点一滴方法
2017-10-27
$京东(JD)$进来给个理由，前提是仔细研究过财报的
免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。
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BYLORD
2017-10-28
BYLORD
最主要的是三季度毛利率会提高了。因为三季度没有大规模的促销活动，单品价格会较二季度提升。此外营销费用也会显著下降。但是最恐怖的事情是，GMV和活跃用户增速的放缓。如果盈利的同时增速下滑那也不会有好结果。东哥原来可能认为盈利不盈利无所谓，但是看到股价狂跌近200亿美金，一个苏宁被他跌完了，无论是自己内心还是投资人施压，也不能这么任性了吧。关键是10000万亿的GMV不盈利说不过去。
勇敢niuniu
:
营收看得是同比 应该会比去年同期好很多 毕竟618不是白做的 应该也会有提升
美股888
:
1万亿，不是10000万亿……
BYLORD
2017-10-28
BYLORD
大家一直说京东是重资产模式，其实自营模式对资金占用不大，全部都是压供应商的钱、只不过上市以后财大气粗才减少啊了资金占用。他的很多钱一方面是投资永辉，途牛易车压了不少钱，还有他的自建物流模式其实拿地成本非常低，也没有看出对他盈利能力太大的影响
BYLORD
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冰点
:
是的，最大的担忧就是要想盈利就少促销，少促销GMV就下滑。左右不好啊。你看京东现在做的事情什么京度计划，京条计划，惊奇计划，到现在和腾讯进一步紧密全方位合作，都是在买流量啊。所以很担心。
冰点
:
担心价格的提升，以及营销费用的减少，会影响到gmv，这样的财报的话盈利也尴尬。。。😂
BYLORD
2017-10-28
BYLORD
还有令人诟病的期权费用，我研究了下阿里，也非常高，但别人为股东赚了钱应该拿啊。京东这算什么，我看上市当年就给刘强东发了4个多亿美元的期权。这是搞啥啊。知道你们KPI考核不看重净利润，但你们也不能这样赤裸裸损害股东的利益啊。
BYLORD
2017-10-28
BYLORD
其实你们仔细看报表影响损益的还有一个人非常关键的因素、就是无形资产摊销。因为腾讯入股京东出了一个不竞争协议和导流支持，京东为此确认了大几十亿的无形资产，摊销期限非常短，所以一年确认费用十几个亿。这是影响损益的很大一块。
沙县国际CEO
2017-10-27
沙县国际CEO
主要是增速不如阿里
京东网易做为电商和游戏的第二梯队如果增速都比不过阿里腾讯..那只能越来越被巨头碾压
勇敢niuniu
回复
沙县国际CEO
:
天猫是平台上商家的gmv 京东基本是自营的gmv
沙县国际CEO
回复
勇敢niuniu
:
就单看天猫GMV同比增长49% 京东43.6% 这个能比不？
勇敢niuniu
:
两家公司模式不一样 不能这么比
做空分析师
2017-10-28
做空分析师
强东年初接受采访，问什么时候能盈利，他犹豫了一下然后肯定的说是今年。那么要达到这个目标，这次财报必须不能差了。不然下个季度赶上春节肯定更差了。
安静不急躁
:
堵不堵财报，至少提前埋伏，总比财报前一天进去好一点。。。
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精彩评论
京东网易做为电商和游戏的第二梯队如果增速都比不过阿里腾讯..那只能越来越被巨头碾压