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A sign of is seen at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021. Picture taken July 30, 2021. REUTERS/Aly SongAug 23 (Reuters) – Chinese e-commerce platform Inc on Monday beat analysts’ expectations for quarterly revenue, boosted by resilient demand for online shopping triggered by the COVID-19 pandemic.
Global brands such as Louis Vuitton owner LVMH expanded partnerships with the company during the quarter, while other brands such as Estee Lauder Cos Inc launched flagship stores on its platform.
The results come amid a crackdown on the tech industry by Chinese regulators, leading to an upheaval in sectors such as e-commerce, gaming, ride-hailing and cryptocurrency. read more
Net revenue at rose about 26% to 253.8 billion yuan ($39.14 billion) in the second quarter ended June 30. Analysts had expected revenue of 249.27 billion yuan, according to IBES data from Refinitiv.
Sales in its product segment, which includes online retail, rose over 23% to 219.69 billion yuan.
($1 = 6.4841 Chinese yuan renminbi)
Reporting by Akanksha Rana in Bengaluru; Editing by Sriraj Kalluvila
Our Standards: The Thomson Reuters Trust more

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