12:06 PM EST, 03/06/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

JD.com ( JD ) shares were up nearly 16% in recent Wednesday trading after the company logged better-than-expected Q4 results.

The company reported Q4 non-GAAP net income of 5.30 renminbi ($0.75) per diluted American depository share, up from 4.81 renminbi a year earlier. Analysts polled by Capital IQ expected 4.53 renminbi.

Revenue for the quarter ended Dec. 31 was 306.07 billion renminbi, up from 295.45 billion renminbi a year earlier. Analysts surveyed by Capital IQ expected 299.47 billion renminbi.

The supply chain technology and service provider said it has set up a new $3 billion share repurchase program to begin on March 17 and last until March 2027.

Additionally, the company said it has approved an annual cash dividend for 2023 of $0.76 per ADS. That compares with its annual dividend of $0.62 per ADS for 2022.

Price: 24.88, Change: +3.44, Percent Change: +16.04