China e-commerce company JD.com (JD) reported quarterly earnings before the market open Tuesday that fell short of Wall Street estimates, though revenue topped.
JD.com reported revenue of $16 billion, beating the estimate of $15.5 billion. It reported adjusted earnings of 11 cents per share, missing the consensus of 14 cents.
The Chinese online sales giant sees Q2 revenue of RMB120 billion and RMB124 billion. The would be a 29%-33% gain in local currency terms, after Q1's 33.1% local currency gain.
JD.com shares fell 3% before the open on the stock market today.
follows the quarterly earnings report of Alibaba (BABA) last Friday, which beat views. Alibaba and JD.com are the two largest internet companies in China, but with different business models. JD.com handles more direct sales while Alibaba is the largest in terms of gross merchandise volume.
Alibaba shares were off a fraction.
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The post JD.com Stock Falls As Earnings Fall Short appeared first on Investor's Business Daily.
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