JD.com’s Quarterly Loss Widens As Costs Rise
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. JD.com, reporting quarterly results for the first time since going public in May, said its net loss widened to 582.5 million yuan, or 5.86 yuan per ADS in the quarter ended June 30. The company said the net loss was mainly due to the amortization of intangible assets and business acquisitions related its strategic partnership with Tencent.
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