JD Revenue Rises 23% in Defiance of China’s Consumption Slowdown

(Bloomberg) — JD.com Inc. posted 23% growth in revenue, after China’s second-largest e-commerce operator managed to grow users despite intensified competition and slowing consumption.

Sales climbed to 275.9 billion yuan ($43.6 billion) during the December quarter, compared with the 274.9 billion yuan average of analyst forecasts. It reported a net loss of 5.2 billion yuan, versus a projected loss of 80.5 million yuan.