BTCC
/
BTCC Square
/
Global Cryptocurrency
/
JD.com Shares Drop Amid Price Wars and Mixed Q2 Earnings
JD.com Shares Drop Amid Price Wars and Mixed Q2 Earnings
8
2
BTCCSquare news:
JD.com's stock fell 2.86% to $31.58 as China's e-commerce price wars and margin pressures overshadowed better-than-expected revenue growth. The company reported a 22% year-over-year revenue increase to $49.7 billion, but net income halved to 6.2 billion yuan due to aggressive discounting strategies.
Beijing has intervened to curb destructive competition among JD.com, Alibaba, and Meituan during major shopping festivals. Meanwhile, JD.com's $2.5 billion acquisition of Ceconomy signals its European expansion ambitions, potentially strengthening the German retailer's credit profile through global synergies.
By:
