:Chinese e-commerce firm JD.com beat Wall Street estimates for second-quarter revenue on Wednesday, as its focus on pushing lower-priced products to attract customers amid an economic slowdown paid off.
JD.com saw increased traffic on the back of purchases ahead of the holiday season and as people attending offices and social functions continued to upgrade their wardrobes.
Revenue grew 7.6 per cent to 287.9 billion yuan ($39.7 billion), compared with analysts’ average estimate of 278.85 billion yuan, according to Refinitiv data.
U.S.-listed shares of JD.com reversed declines to trade flat before the bell.
(1 Chinese yuan = $0.1370)
Source: CNA
