JD.com reports lower-than-expected Q3 revenue due to weak consumer spending in China.

China's e-commerce giant JD.com reported lower third-quarter revenue than expected, with sales rising only 5.1% to about $36 billion. This shortfall is attributed to weak consumer spending due to economic challenges, including a property crisis and job insecurity. Despite a 47.8% increase in net income to about $1.6 billion, the company faces continued economic headwinds and a lack of concrete government steps to boost consumption.

November 14, 2024
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