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Investing.com - JD.com (NASDAQ:JD) has posted sales and profit that topped expectations in the first quarter, as the Chinese e-commerce giant said it was boosted by strong user growth and more upbeat consumer sentiment.
Net revenue during the period climbed by 16% versus a year earlier to 301.08 billion yuan, compared with Bloomberg consensus estimates of 289.44 billion yuan.
Adjusted earnings before interest, tax, depreciation and amortization also grew by 27% year-over-year to 13.70 billion yuan. Analysts had anticipated 12.64 billion yuan.
"We saw a strong start to the year, with solid results on both the top and bottom lines in Q1,” said CEO Sandy Xu in a statement. “Our performance was supported by improving consumer sentiment and continued enhancements to JD’s supply chain capabilities and user experience."
Xu added that there are "encouraging signs" from its new initiatives. JD.com (HK:9618) has recently pushed to increase its investments in areas like food delivery as it looks to combat heavy competition from peers such as Alibaba (NYSE:BABA).
Heading into the results, some analysts had argued that the spending, which has included a 10 billion renminbi "subsidy" program, could weigh on JD.com’s earnings during its 2025 fiscal year.
U.S.-listed shares in JD.com were lower in premarket U.S. trading on Tuesday.