China’s JD.com tops quarterly revenue estimates on steady e-commerce demand

Chinese e-commerce giant JD.com beat market estimates for quarterly revenue on Thursday, signalling resilient consumer spending on its platform fueled by price cuts and government subsidies.

US-listed shares of the company rose about 3% in premarket trading.

Consumer demand in China has remained muted amid persistent economic pressures and trade uncertainty, but retailers like JD.com have leaned on deep discounts, promotions and government stimulus to spur sales.