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China’s JD.com Reports 25% Jump in Quarterly Revenue

China’s JD.com reports 25 percent jump in quarterly revenue. Shutterstock.

Chinese e-commerce firm JD.com Inc reported on Thursday a 25.5 percent rise in quarterly revenue, boosted by sustained demand for online shopping.

People shopped heavily online during the peak of the Covid-19 pandemic, benefiting e-commerce companies and they continue to see higher demand due to widespread outbreaks of the contagious Delta and other variants globally.

The company’s results come amid China’s regulatory crackdown on the tech industry that has led to an upheaval in sectors such as e-commerce, ride-hailing and gaming.

Its net loss attributable to ordinary shareholders was 2.81 billion yuan ($440 million), from a profit of 7.56 billion yuan ($1.18 billion), a year earlier.

The company’s net revenue rose to 218.7 billion yuan ($34.27 billion) in the third quarter.

By Tiyashi Datta and Akriti Sharma; Editor: Uttaresh.V

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