JD.com beats quarterly revenue estimates
What: JD.com Inc, beat Wall Street estimates for quarterly revenue on Tuesday, as more people shopped on its e-commerce platform following lockdowns in mainland China to fight a fresh Covid-19 outbreak.
Why is it important: The company reported revenue of 239.66 billion yuan for the quarter ended March 31, compared to analysts’ estimates of 236.66 billion yuan, according to IBES data from Refinitiv.
Net loss attributable to ordinary shareholders stood at 2.99 billion yuan, compared with a profit of 3.62 billion yuan a year earlier.
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