News Tech: Aug 23 (Reuters) – JD.com Inc (9618.HK), beat Wall Street estimates for quarterly revenue on Tuesday as lockdowns in China to control the spread of the coronavirus boosted online shopping and the company’s “618” shopping event.
The company reported second-quarter revenue of 267.6 billion yuan ($39.07 billion), topping analysts’ average estimate of 262.31 billion yuan, according to IBES data from Refinitiv.
U.S.-listed shares of the Beijing-based company rose nearly 7% in premarket trading.
Sales in its product segment, which includes online retail sales, rose 2.9% in the quarter, while those from services such as logistics and marketing jumped 21.9%.
RegisterReporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila
Source: Reuters Trust Principles.