JD.com’s second-quarter profit climbs 15% as food-delivery losses narrow

Chinese e-commerce giant JD.com saw its second-quarter net profit soar 15 per cent year on year to 7.1 billion yuan (US$1.1 billion), beating market expectations despite a slight dip in overall revenue, as it contends with sluggish domestic consumer demand, fierce competition and a push into new business lines. Net revenue for the three months ended June 30 fell 2.9 per cent to 346.4 billion yuan, but still surpassed the 342.1 billion yuan consensus estimate from analysts polled by...