News Snapshot:
JD Q2 Earnings Update: JD.com reported Q2 financial results this morning that beat on topline revenue growth though the bottom line was weak as expenses increased. The company had mentioned this would happen in their Q1 earnings call as the company invests in growing its business. On today’s earnings call, the company said it is adhering to internet regulation with several new laws going into effect this fall. JD Retail, JD’s e-commerce unit which accounts for the vast majority of revenues, had a strong quarter driven by the June 618 shopping event. The event saw 236 brands achieve sales of...
