Why JD.Com Stock Is Rising

JD.Com Inc JD shares are trading higher by 2.25% to $34.57 Tuesday morning. The stock is rising in sympathy with peer Chinese e-commerce player PDD Holdings after the company reported upbeat second-quarter results.

What Happened?

PDD Holdings reported second-quarter FY23 revenue growth of 66% year-on-year to $7.21 billion, beating the consensus of $6.07 billion.

Non-GAAP earnings per ADS of $1.44 beat the consensus of $1.01. Revenues from online marketing services and others rose 50% Y/Y to $5.23 billion. Revenues from transaction services jumped 131% Y/Y to $1.98 billion...Read More

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According to data from Benzinga Pro, JD.Com has a 52-week high of $67.10 and a 52-week low of $31.56.