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JD.com beats quarterly revenue estimates on increased e-commerce demand -Breaking

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© Reuters. FILE PHOTO: A man stands outside JD.Com’s headquarters, amid the Singles’ Day shopping festival, during an organised tour in Beijing, China, November 9, 2021. REUTERS/Tingshu Wang/

(Reuters) –JD.com Inc beat Wall Street’s estimates of quarterly revenue Tuesday as more customers used its ecommerce platform to shop after lockdowns in Mainland China were implemented to combat a new COVID-19 epidemic.

Premarket trading saw nearly 8 percent growth in U.S.-listed shares from the Beijing-based firm.

COVID-19’s revival in the 2nd-largest country and strict regulations that govern it have rekindled online sales, helping companies to regain the same growth as during the first stages of the pandemic.

According to IBES data by Refinitiv, the company’s revenue was 239.66 trillion yuan (35.57 billion), compared with analysts’ expectations of 236.66 million yuan.

Average shareholders suffered a net loss of 2.99 trillion yuan in 2012, while they made a profit 3.62 billion last year.

($1 = 6.7386 renminbi)

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