E-commerce firm JD.com beats second-quarter estimates, adds record new users amid regulatory tightening

Source: Tech – South China Morning PostJD.com on Monday beat analysts’ estimates for the quarter through June and added a record number of new users as the Chinese e-commerce giant benefited from a post-Covid-19 surge in online shopping.The results come amid a crackdown on the country’s Big Tech companies by Chinese regulators that has led to an upheaval in sectors such as e-commerce, video gaming, ride-hailing and cryptocurrency.Net revenue at JD.com rose to 253.8 billion yuan (US$39.14 billion) in the quarter ended June 30, up…Read More

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