Trending: JD.com Shares Rise on Strong Earnings, Rosy Outlook
May 12 2023 - 3:14AM
Dow Jones News
0644 GMT - JD.com is one of the most mentioned companies in the
news over the past 12 hours, according to Factiva data, after it
outpaced earnings estimates for the first quarter. The e-commerce
giant reported Thursday after the Hong Kong bourse closed that it
swung to a profit compared with a loss in the first quarter last
year and forecast "encouraging trends" for the second quarter. The
Beijing-based company also said that Chief Executive Lei Xu will
retire due to personal reasons next month, and named Chief
Financial Officer Sandy Ran Xu as his replacement. Citi analysts
said the surprise move was unlikely to change operations. Shares
rose by as much as 8.1% in Hong Kong on Friday and were last up
6.7%. Dow Jones & Co. owns Factiva.
(jacques.vanwersch@wsj.com)
(END) Dow Jones Newswires
May 12, 2023 02:59 ET (06:59 GMT)
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