JD.com’s Sales Rise Though Food Delivery Foray Slices Profit

JD.com Inc.’s revenue grew a faster-than-anticipated 22%, benefiting from government-directed consumer subsidies as well as an aggressive but costly drive into new arenas such as meal delivery.

China’s top online retailer by revenue reported sales of 356.7 billion yuan ($49.7 billion) for the quarter ended June, about 6% above projections. Net income halved to 6.2 billion yuan, though that fall was better than feared.