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.
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
86868686 : Looking forward to Double Eleven continuing to take off