Stock market

China’s JD.com quarterly revenue rises 31% on e-retail strength

Stock Markets (Mar 11, 2021 06:10AM ET) China's JD.com quarterly revenue rises 31% on e-retail strength

© Reuters. A JD.com sign is seen at the World Internet Conference (WIC) in Wuzhen

(Reuters) – Chinese e-commerce company JD (NASDAQ:JD).com Inc reported a 31% jump in fourth-quarter revenue on Thursday as more shoppers flocked to its website on the back of a broader shift to online shopping triggered by the COVID-19 pandemic.

While China has largely emerged from coronavirus lockdowns with most businesses resuming production, JD.com’s domestic consumers continue to shop online for everything from daily groceries to luxury products.

The Beijing-based company’s net revenue rose to 224.3 billion yuan ($34.58 billion) in the quarter ended Dec. 31, beating analysts’ estimate of 219.73 billion yuan, according to IBES data from Refinitiv.

Net income attributable to ordinary shareholders rose to 24.33 billion yuan from 3.63 billion yuan a year earlier.

($1 = 6.4868 Chinese yuan renminbi)China’s JD.com quarterly revenue rises 31% on e-retail strength

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