Chinese e-commerce giant's Q2 results beat estimates



Chinese e-commerce company Inc. on Tuesday reported better-than-expected results for the second quarter, supported by strong online sales and its mid-year promotional event.

The Beijing-based company reported a revenue of 267.6 billion yuan ($39.08 billion) for the three months ended June 30, a year-on-year increase of 5.4 percent. This was higher than the average estimate of 262.31 billion yuan by analysts from data provider Refinitiv.

Net income jumped for the quarter to 4.4 billion yuan, compared with almost 800 million yuan for the same period last year.

The company's annual active customer accounts increased by 9.2 percent year on year to 580.8 million by end-June.

JD's revenue from product sales, including its online sales, increased by 2.9 percent while its service revenue, including revenue from its logistics business, jumped by 21.9 percent on an annual basis.

Earlier this month, JD's main competitor Alibaba reported flat quarterly revenue growth but also beat market expectations.