China's JD.com beats quarterly revenue estimates

[August 23, 2022]  (Reuters) - JD.com Inc, beat Wall Street estimates for quarterly revenue on Tuesday as lockdowns in China to control the spread of the coronavirus boosted online shopping and the company's "618" shopping event.

A resident, wearing a face mask following the coronavirus disease (COVID-19) outbreak, walks past a JD.com advertisement for the "618" shopping festival displayed outside a shopping mall in Beijing, China June 14, 2022. REUTERS/Carlos Garcia Rawlins

The company reported second-quarter revenue of 267.6 billion yuan ($39.07 billion), topping analysts' average estimate of 262.31 billion yuan, according to IBES data from Refinitiv.

($1 = 6.8495 Chinese yuan renminbi)

(Reporting by Nivedita Balu in Bengaluru; Editing by Sriraj Kalluvila)

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