Chinese e-commerce group JD.com, which competes with Alibaba’s Tmall platform, missed analyst expectations in its quarterly earnings report amid booming costs.
Adjusted earnings per share came to Rmb0.71 ($0.11), dropping 23 per cent from the previous year, and also undershooting analyst estimates in a Bloomberg poll of Rmb0.81.
Net revenues for the first three months of 2018 soared to Rmb100bn ($16bn), increasing by a third from the same period last year. But costs also jumped, especially in technology research, as the company tries to shore up its competitive advantage in logistics management.
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