Total revenue in the three-month period ending September 30 rose to 247.7 billion yuan ($34.2 billion), the firm announced in a filing to the Hong Kong Stock Exchange, up 1.7 percent year-on-year.
The figure came in higher than an average analyst estimate of 246.6 billion yuan, according to Bloomberg.
Net income for JD.com during the same period reached 7.9 billion yuan, up from 6.0 billion in the third quarter of last year.
One of China's largest retailers, JD.com's fortunes were hit hard by heightened scrutiny of big tech by the state as well as a Covid-induced sales slump in recent years.
The Beijing-based firm has been engaged in an intense battle for market share in China's vast e-commerce sector, which has faced sluggish demand this year despite efforts by authorities to boost activity in the world's second-largest economy.
China's Tencent posts Q3 income slide despite revenue growth
Beijing (AFP) Nov 15, 2023 -
Chinese internet giant Tencent announced on Wednesday a nine percent year-on-year dip in third-quarter net income, even as it posted growth in revenue over the same period.
The Shenzhen-based firm, which operates China's ubiquitous "super-app" WeChat, reported net income for the three-month period ending September 30 of 36.2 billion yuan ($5.0 billion) in results published at the Hong Kong Stock Exchange.
But the slide in profits still beat expectations, according to Bloomberg, in a positive sign for domestic consumption in the entertainment sector.
Total third-quarter revenue for the tech giant stood at 154.6 billion yuan ($21.3 billion), up 10 percent year-on-year and up four percent from the second quarter.
The firm posted its latest results on the same day that Chinese authorities announced a surge in retail sales during October, boosted by an extended holiday at the start of the month.
Retail sales jumped 7.6 percent on-year in October, according to the National Bureau of Statistics, up from September's 5.5 percent and the highest growth since May.
The country slipped back into deflation last month, while exports continued to fall, highlighting the challenge for officials grappling with weak domestic consumption and a faltering recovery since Beijing abolished strict zero-Covid curbs in late 2022.
Following a long period of meteoric growth, Chinese tech firms have faced a stringent crackdown by authorities in recent years, which weighed heavily on their profitability.
Last quarter, Tencent's annual increase in net income to 26.17 billion yuan ($3.6 billion) -- an on-year jump of 41 percent -- was the fastest recorded since 2021.
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