China Retail Giant JD.com’s Revenue Climbs After Foray Into Food Delivery
JD.com Inc.’s revenue grew a faster-than-anticipated 22% in the June quarter, benefiting from government-directed consumer subsidies as well as an aggressive drive into new arenas such as meal delivery.Shares in China’s top online retailer by revenue rose about 1% in pre-market US trading. The company reportedBloomberg Terminal sales of 356.7 billion yuan ($49.7 billion) for the quarter ended June, about 6% above projections. Net income halved to 6.2 billion yuan, though that fall was better tha...
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