JD.com’s Revenue Beats Estimates After Discounts Drive Sales

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JD is now pivoting toward offering consumers wider price ranges and product categories, diversifying from its traditional focus on bigger-ticket items. Photo: Bloomberg

(Bloomberg) — JD.com Inc. posted a stronger-than-expected 1.7% rise in quarterly revenue, after heavy promotional spending propelled online transactions in the face of intense competition.

Revenue came to 247.7 billion yuan ($34.2 billion) in the September quarter, versus the 246.6 billion yuan average analyst estimate. Net income rose 33% to 7.9 billion yuan. Its shares rose 4.5% in pre-market trading in New York.