China's JD.com reports quarterly revenue above estimates
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[BEIJING] China's JD.com beat analysts' estimates for quarterly revenue on Monday, as more customers used its online platform to shop for groceries and other essentials in the face of the Covid-19 pandemic.
US-listed shares of the company rose more than 2 per cent in trading before the bell.
The results come amid growing tensions between Beijing and Washington, which is pushing for tough scrutiny of Chinese stocks listed on US exchanges.
Net product revenue, which includes online retail sales, rose 33.5 per cent to 178.19 billion yuan (S$35.1 billion).
Net income attributable to shareholders rose to 16.45 billion yuan from 618.8 million yuan a year earlier.
The company's total net revenue rose 33.8 per cent to 201.1 billion yuan in the second quarter ended June 30. Analysts were expecting revenue of 190.95 billion yuan, according to IBES data from Refinitiv.
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REUTERS
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