The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BEIJING, China — China's JD.com Inc beat analysts' estimates for quarterly revenue on Friday, as stay-at-home customers turned to its online platform for daily groceries and shopping needs, sending its US-listed shares up 3.5 percent before the bell.
The company is also benefiting from an in-house logistics and warehousing unit that is supporting the current surge in online orders.
Total net revenue rose 20.7 percent to 146.21 billion yuan ($20.59 billion) in the first quarter ended March 31, while analysts on average had expected 136.53 billion yuan, according to IBES data from Refinitiv.
Net income attributable to ordinary shareholders fell to 1.07 billion yuan, from 7.32 billion yuan a year earlier.
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Excluding items, the company earned 1.98 yuan per American depositary share, above estimate of 0.83 yuan.
By Ayanti Bera and Josh Horwitz; editor: Sriraj Kalluvila.
Successful social media acquisitions require keeping both talent and technology in place. Neither is likely to happen in a deal for the Chinese app, writes Dave Lee.
TikTok’s first time sponsoring the glitzy event comes just as the US effectively deemed the company a national security threat under its current ownership, raising complications for Condé Nast and the gala’s other organisers.
BoF Careers provides essential sector insights for fashion's technology and e-commerce professionals this month, to help you decode fashion’s commercial and creative landscape.
The algorithms TikTok relies on for its operations are deemed core to ByteDance overall operations, which would make a sale of the app with algorithms highly unlikely.