Why JD.com Stock Was Falling Today
Shares of JD.com (NASDAQ: JD) were moving backwards today. The Chinese e-commerce company recently posted solid third-quarter results, but they weren't enough to please investors. Results on the top line were just short of consensus expectations, and the stock was trading down 7% as of 2:22 p.m. EST.
Revenue at JD.com, which is China's biggest direct online seller, rose 29.2% to $25.66 billion, just a hair short of estimates $25.7 billion. Growth in general merchandise, which includes segments like groceries, was strong, rising 34.8% to $8.6 billion and revenue from services like third-party logistics and its marketplace was up 42.7% to $3.4 billion.
Image source: JD.com.
Source Fool.com