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Jd.com's Quarterly Loss Widens As Costs Rise

Ron Burgundy

By Ron Burgundy,
in Tech News

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Ron Burgundy

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(Reuters) - JD.com Inc, China's No.2 e-commerce company, reported a bigger quarterly net loss due to costs related to a partnership with Tencent Holdings Ltd and higher spending aimed at better competing with market leader Alibaba Group Holding Ltd. The company's American Depositary Shares were down 2.2 percent at $29.35 in early trading on Friday. JD.com, reporting quarterly results for the first time since going public in May, said its net loss widened to 582.5 million yuan ($93.9 million), or 5.86 yuan (94 cents) per ADS in the quarter ended June 30. ...

 

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