JD.com Results- Profits Missed
Chinese e-commerce giant JD.com posted its slowest quarterly revenue growth on record for the first three months.
A Chinese ecommerce giantJD.com beat estimates on revenue but missed expectations on profit.
JD.com Results- Beats Revenue Goal
JD.com Results- Revenue
239.7 billion Chinese yuan
vs. 236.6 billion yuan expected, a 18% year-on-year rise.
3.0 billion yuan vs. 655.7 million yuan profit expected. That compares with a 3.6 billion yuan net profit in the same period last year.
JD.com Results- Net Loss
JD.com Results- 18% Revenue Growth
The 18% revenue growth is the slowest year-on-year quarterly growth rate for JD in its history as a public company.
JD.com shares, which were already higher in U.S. stocks extended the rally after the company’s revenue beat, trading 8% higher.
JD.com Results- Trading 8% Higher
JD.com Results- Alibaba Growth Slower
In the three months to the end of December, rival Alibaba reported its slowest quarterly growth rate since its 2014 listing.
JD’s retail segment, its largest division by revenue, brought in revenue of 217.5 billion yuan in the March quarter.
JD.com Results- Retail Segment
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