China's JD.com Sees Sales Growth Slow Despite Topping Estimates
JD.com, Inc. reported its slowest quarterly revenue growth since listing, indicating that China's second-largest e-commerce firm is feeling the heat from mounting competition in an increasingly saturated domestic market.
JD.com's revenue for the three months to March, while ahead of analysts' average forecast, marks a fifth quarter of slower growth for the retailer, at a time when Chinese e-commerce companies, including key rival Alibaba Group Holding Ltd, are grappling with a crowded market.
Both JD.com and Alibaba have been investing heavily in new business, in an effort to tap fresh markets, but this has hurt their margins, as indicated by their latest financial results.
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