March 6 - Chinese e-commerce giant JD.com (JD, Financial) saw its shares surge 6% in pre-market trading on Thursday after the company reported strong Q4 quarterly revenue that exceeded expectations. For the fourth quarter, JD.com reported revenue of 346.99 billion yuan (approximately $47.91 billion), a 13.4% rise over last year, surpassing analyst expectations of 332.35 billion yuan.
Deep discounts and aggressive price cuts spurred robust consumer spending during the year-end sales period. JD.com and its rival Alibaba (BABA, Financial) have been reducing prices on products from toys to tech appliances to attract shoppers amid slowing consumption in China, the world's second-largest economy.
In a display of financial strength, JD.com declared an annual cash dividend of $1.00 per ADS, a 31.6% increase over the previous dividend of $0.76. This move underscores the company's commitment to rewarding shareholders despite a challenging retail environment.
Amid escalating trade tensions, the Chinese government has also boosted fiscal stimulus measures to support domestic consumption, as U.S. President Donald Trump imposed new duties on Chinese goods.
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