Chinese e-commerce giant JD.com misses quarterly revenue estimates

Chinese e-commerce giant JD.com missed Wall Street estimates for quarterly revenue on Thursday, hurt by stiff competition and tepid customer spending amid a sluggish economic recovery.
The company’s total revenue rose 1.2 per cent to 291.4 billion yuan ($40.71 billion) in the second quarter, compared with estimates of 292.89 billion yuan, according to 23 analysts polled by LSEG.
($1 = 7.1585 Chinese yuan renminbi)