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JD.com reports 496.4m yuan Q2 loss after spending to drive sales
E-tailer's income shaved by shopping subsidies and more marketing spending to attract new customers
Add BT as a preferred sourcePublished Tue, Aug 15, 2017 · 09:50 PM
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Beijing
JD.COM INC posted a wider quarterly loss as China's second-largest online mall boosted marketing spending to drive sales at its mid-year shopping promotion.
The net loss was 496.4 million yuan (S$101.6 million) for the three months ended June, almost double the 252 million yuan loss of a year earlier. Second-quarter sales jumped 44 per cent to 93.2 billion yuan, helped by a partnership with backer Walmart Stores Inc. The shares fell 3.6 per cent in New York.
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