JD posts slowest quarterly growth on record
$JD.com(JD.US$ beat top and bottom line expectations in the second quarter, but posted its slowest yoy revenue growth on record.
But the company got a boost from better profitability in its main retail business and logistics division, helped by the annual “618” shopping festival that takes place in China in June.
But the company got a boost from better profitability in its main retail business and logistics division, helped by the annual “618” shopping festival that takes place in China in June.
![JD posts slowest quarterly growth on record](https://ussnsimg.moomoo.com/1661329155538-random1455-103055095-android-org.png/bigmoo)
Here’s how JD.com did in the second quarter, versus Refinitiv consensus estimates:
Revenue: 267.6 billion Chinese yuan ($40 billion) vs 262.3 billion yuan expected, a 5.4% year-on-year rise.
Net profit attributable to ordinary shareholders: 4.4 billion Chinese yuan vs. 1.36 billion yuan profit expected.
Net profit attributable to ordinary shareholders: 4.4 billion Chinese yuan vs. 1.36 billion yuan profit expected.
JD.com is not the only Chinese technology company suffering a fallout from the economic slowdown. This month, e-commerce rival $Alibaba(BABA.US$ reported flat June quarter revenue for the first time while gaming and social media giant $Tencent(TCEHY.US$ reported its first revenue decline on record.
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whqqq : Another rising Chinese stocks
I remember Tencent supports it
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