President Trump discusses national security and US business relations with China.
JD.com revenue grew in the second quarter as more customers turned to ordering products online following the outbreak of COVID-19.
The Beijing-based online direct sales company reported annual active customer accounts increased by 30% to 417.4 million in the three months through June, boosting net revenue by 34% year-on-year to 201.1 billion Chinese yuan ( $ 28.5 billion). Net income was 16.4 billion Chinese yuan ($ 2.3 billion), an adjusted 3.51 Chinese yuan per share.
| Ticker | Security | Last | Change | Change% |
|---|---|---|---|---|
| JD | JD.COM INC | 65.25 | +3.19 | + 5.14% |
Wall Street analysts surveyed by Refinitiv expect JD.com to report earnings of 190.9 billion Chinese yuan on earnings of 2.67 Chinese yuan per share.
“Our economies of scale and cost-effectiveness have enabled us to deliver attractive prices during our June 18 sales promotions, benefits to consumers and society, as China’s economy emerges from the difficult pandemic period, and has helped solid top- and bottom-line results for the second quarter, ”CFO Sandy Xu said in a statement.
BID MUM OVER TRUMP CRACKDOWN ON SUN STICKS
JD.com listed its shares in Hong Kong on June 18, raising $ 34.6 billion ($ 4.46 billion), which the company plans to use to invest in key technology for supply chain.
The company announced Friday night that one of its business units would receive a $ 3 billion Chinese yuan that governs the stake in courier service provider Kuayue Express.
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Shares were up 76% through Friday.
