Saturday, 16 May 2020

JD.com beats quarterly revenue estimates on lockdown boost




China's JD.com Inc beat analysts' estimates for quarterly revenue on Friday, as stay-at-home customers turned to its online platform for daily groceries and shopping needs.

The company's total net revenue rose to 146.21 billion yuan (16.87 billion pounds) in the first quarter ended March 31, from 121.08 billion yuan a year earlier. Analysts had expected revenue of 136.53 billion yuan, according to IBES data from Refinitiv.

Net income attributable to ordinary shareholders fell to 1.07 billion yuan, from 7.32 billion yuan a year earlier.

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