JD.com beats quarterly revenue estimates

China’s JD.com Inc beat estimates for quarterly revenue tapping a coronavirus-induced boost to online shopping.

U.S-listed shares of the Beijing-based company rose nearly 7% in premarket trading.

JD.com reported second-quarter revenue of 267.6 billion yuan ($39.07 billion). Analysts had estimated 262.31 billion yuan.

Sales in the company’s retail segment, which includes online retail sales, rose 2.9% in the quarter, while those from services such as logistics and marketing jumped 21.9%.

JD.com’s net income attributable to ordinary shareholders rose to 4.38 billion yuan, or 1.37 yuan per American Depository Share (ADS) for the quarter from 794 million yuan, or 0.25 yuan per ADS, a year earlier.

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