Chinese retail giant JD.com hits record quarterly profits to beat expectations

JD.com Farfetch
Richard Liu

Chinese e-commerce behemoth JD.com exceeded estimates for its first quarter earnings this year, up 20.9% on the same period in 2018 with record-breaking quarterly profits.

The tech giant recently cut staff and wages in a bid to increase profitability and saw revenue grow to Rmb121bn (£13.8bn) for the quarter up until 31 March 2019.

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