JD.com beats quarterly revenue, profit estimates

SHANGHAI, Nov 18 (Reuters): Chinese e-commerce firm JD.com Inc beat quarterly revenue and adjusted profit estimates on Thursday, boosted by sustained demand for online shopping.

People shopped heavily online during the peak of the Covid-19 pandemic, benefiting e-commerce companies which continue to see higher demand due to widespread outbreaks of the highly contagious Delta variants globally.

JD.com's results also came amid China's regulatory crackdown on the tech industry that has led to an upheaval in sectors such as e-commerce, ride-hailing and gaming.

Sales in the company's product segment, which includes online retail sales, rose 22.9 per cent in the quarter ended Sept. 30.