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China’s JD.com reports 25% jump in quarterly revenue -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO : A sign from JD.com is seen on people standing under it at the Appliance & Electronics World Exposition (AWE) held in Shanghai, China. March 23rd 2021. REUTERS/Aly SONG/File photo

(Reuters) – Chinese ecommerce firm JD reported Thursday a 25.5% increase in quarterly revenue. This was due to sustained online shopping demand.

Online shopping was a popular option during the COVID-19 epidemic. This helped e-commerce businesses and continues to benefit from the increased demand for their products due to the widespread spread of contagious Delta disease and its variants around the world.

These results were achieved amid China’s crackdown on tech industries that led to disruption in areas such as gaming, ride-hailing, and e-commerce.

From a profit 7.56 billion Yuan a year prior, it lost 2.81 billion yuan as a net loss to ordinary shareholders.

The net revenue of the company rose to 218.7 trillion yuan ($34.27 million) during the third quarter.

($1 = 6.3823 renminbi)

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