Reported about 8 hours ago
JD.com Inc. reported a 16% increase in revenue, reaching 301.1 billion yuan ($41.8 billion) for the quarter ending March, thanks to Chinese government stimulus measures that encouraged consumer spending on electronics and high-end products. The net income surged by 53% to 10.9 billion yuan, despite challenges from US trade tensions. While the company's foray into the competitive food delivery market has raised investor concerns about potential financial losses, the benefits from subsidized product categories are expected to help offset operational costs.
Source: YAHOO