Alibaba, JD.com Earnings Will Likely Give Stocks Little Help
- JD.com kicks off China tech earnings season Thursday
- Earnings consensus for Hang Seng Tech Index near record lows
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As China’s post-Covid recovery loses steam, earnings are unlikely to provide the boost that the country’s tech stocks could really use.
JD.com Inc. starts the reporting season on Thursday with analysts projecting less than 1% revenue growth for the first quarter, which would be the slowest pace on record, Bloomberg-compiled data show. Next week, Alibaba Group Holding Ltd. will likely report a sub-3% sales increase, while Tencent Holdings Ltd. may still trail the double-digit pace of the past, according to estimates.