Internet giant JD.com exceeds expectations despite slowdown

Both revenue and adjusted profit of Chinese e-commerce company JD.com – recently also active in the Netherlands – came out higher than expected last quarter.

Delta variant

In the three months to 30 September, JD.com achieved total sales of 218.7 billion yuan (30.2 billion euros), a growth of 25.5%. Analysts were expecting 216 billion yuan (29.8 billion euros). The company benefited from widespread outbreaks of the highly contagious delta variant of the coronavirus, which made more people want to shop online.

Higher costs, however, reduced adjusted operating profit to 2.6 billion yuan (359 million euros). Nevertheless, even that result was significantly better than what analysts had predicted, writes Reuters.

Ochama

JD.com has recently become active in the Netherlands, under the name Ochama. Last week, the first branch opened in Leiden: not really a shop, it is actually a pickup point for goods ordered online. In December, Ochama also wants to start in Utrecht, Rotterdam and Diemen (near Amsterdam).