JD Leaps to 20-Month High After Sales Outlook Quells Virus Fears
- It reported revenue that blew past highest analyst’s estimate
- JD’s forecast contrasts with Alibaba’s strong warning
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JD.com Inc. surged to its highest since June 2018 after its forecast for at least 10% revenue growth this quarter suggested online retail in China was proving more resilient to the coronavirus epidemic than anticipated.
Its shares rose more than 12.4% in New York, their biggest gain since August, after the company reported fourth-quarter revenue of 170.7 billion yuan ($24.5 billion), surpassing the highest analyst’s estimate thanks to a strong performance during November’s Singles’ Day shopping event and robust user growth.