JD.com Posts Strong Q3 Results Amid Economic Slowdown

Despite better-than-expected earnings, the company's shares have lost over half their value this year.

JD.com reported better-than-expected third quarter results, with earnings per share of 6.70 Chinese yuan ($0.92) and revenue rising 1.7% from a year ago to 247.7 billion Chinese yuan ($34.2 billion).
The company achieved record profitability in Q3 2023, crediting its success to enhancing price competitiveness, platform ecosystem, and supply chain advantages.
Despite strong results, JD.com's shares have lost more than half their value this year.
JD.com and Alibaba both reported year-on-year sales growth for China's largest shopping festival, Singles Day, but overall sales across major e-commerce platforms declined by 1% from the previous year.
Alibaba is set to report its quarterly results on Thursday, with its ability to weather a slowdown in the world’s second-largest economy in focus.