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JD.com profits jumped, while revenue growth hit slowest on record

Chinese e-commerce giant JD.com posted a better-than-expected profit in the first quarter while revenue growth hit the slowest on record.

JD said it generated 7.3 billion yuan ($1.1 billion) in net income attributable to ordinary shareholders in the first quarter of the year, compared to 1.5 billion yuan a year earlier. Its non-GAAP net profit jumped 215 per cent during the period from the same period last year, according to its earnings announcement on Friday.

The company posted revenue of 121.1 billion yuan, narrowly beating analysts’ estimate of 120.1 billion . . .

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