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JD.com beats second-quarter sales estimates on online strength
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JD.com beats second-quarter sales estimates on online strength
Reuters / Published: Aug 24, 2021, 00:11AM IST
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Global brands such as Louis Vuitton owner LVMH expanded partnerships with the company during the quarter, while other brands such as Estee Lauder Cos Inc launched flagship stores on its platform.
The results come amid a crackdown on the tech industry by Chinese regulators, leading to an upheaval in sectors such as e-commerce, gaming, ride-hailing and cryptocurrency.
Net revenue at JD.com rose about 26% to 253.8 billion yuan ($39.14 billion) in the second quarter ended June 30. Analysts had expected revenue of 249.27 billion yuan, according to IBES data from Refinitiv.
Sales in its product segment, which includes online retail, rose over 23% to 219.69 billion yuan.
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