JD.com’s Sales Beat Estimates Despite Chinese Economy Weakness
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JD.com Inc.’s revenue accelerated in the second quarter after its signature 6.18 festival scored with shoppers, helping the company defy worsening Chinese economic volatility.
China’s No. 2 online retailer reported a 7.6% rise in revenue to 287.9 billion yuan ($39.5 billion) in the June quarter, versus the 279.1 billion yuan average of analysts’ estimates. Net income climbed 50% to 6.6 billion yuan.