JD.com Beats Revenue Estimates as Lockdowns Boost E-commerce Demand
KONTAN.CO.ID - Chinese e-commerce group JD.com Inc beat Wall Street estimates for quarterly revenue on Tuesday, as more people shopped on its platform following lockdowns in mainland China to fight a fresh Covid-19 outbreak.
US listed shares of the Beijing-based company rose nearly 8% in premarket trading. E-commerce rival Alibaba Group also surged 7% and Pinduoduo climbed more than 8% before the market opened.
