JD.com Approves $3 Billion Buyback After Revenue Beat Estimates

(Bloomberg) — JD.com Inc. initiated a $3 billion stock repurchase program and reported a better-than-expected 3.6% rise in revenue, helped by a broader product lineup and price cuts to target cost-conscious Chinese consumers.

The online retailer reported sales of 306.1 billion yuan ($42.5 billion) from October to December, versus the average analyst projection for about 300 billion yuan.