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Bloomberg
JD.com logged better-than-expected 18% revenue growth, after China’s second-largest e-commerce operator grew market share to cushion the blow from Covid lockdowns across the country’s biggest cities.
Sales climbed to 239.7 billion yuan ($35.6 billion) in January-March, beating the 236.7 billion yuan average of analyst forecasts.
It reported a net loss of 3 billion yuan. JD’s stock surged more than 8% in pre-market trading in New York.
JD and larger rival Alibaba Group Holding Ltd are grappling with the economic fallout from the coronavirus-related lockdowns that have snarled logistics to cities such as Shanghai.