13-05-2025
China's JD.com beats quarterly revenue estimates
May 13 (Reuters) - China's ( opens new tab topped market estimates for quarterly revenue on Tuesday, in a sign the e-commerce giant saw steady demand even as U.S. tariffs and prolonged economic weakness weighed on consumer sentiment.
Consumer demand in China has faced a series of hurdles in recent years, with a prolonged property sector crisis and high unemployment rates never allowing for a full recovery from the impact of the COVID-19 pandemic.
But e-commerce players such as and Alibaba ( opens new tab have resorted to slapping heavy discounts and cutting product prices to lure shoppers, while also leaning on government subsidies to drive consumption.
That has helped a major retailer of home appliances in China, even as consumer sentiment took a hit from U.S.-China trade tensions. China's retail sales growth also quickened in January and February.
reported total revenue of 301.08 billion yuan ($41.82 billion) for the quarter ended March 31, up 15.8% from a year earlier. Analysts' estimate was 289.22 billion yuan, according to data compiled by LSEG.
U.S.-listed shares of the company fell more than 1% in premarket trading.
