JD Plunges After Growth, Margin Concerns Outweigh Sales Beat

Overall Chinese retail sales missed expectations in October
Executives proclaim support for Big Tech antitrust regulations

Employees sort parcels at a JD.com Inc. delivery station in Beijing.
Photographer: Giulia Marchi/Bloomberg

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By Coco Liu

November 16, 2020 at 10:58 AM UTC

Updated on

November 17, 2020 at 2:28 AM UTC

This article is for subscribers only.

JD.com Inc.’s shares dived as much as 9% after concerns about slowing e-commerce growth and pressure on margins outweighed better-than-expected post-Covid revenue growth.

Beijing-based JD.com’s sales climbed 29% to 174.21 billion yuan ($26.5 billion) during the July-September quarter, surpassing the 170.5 billion yuan average of analysts’ estimates. Its net income surged to 7.6 billion yuan, helped by one-time gains of more than 3.7 billion yuan from the value of investments and other items.