(Reuters) – Chinese e-commerce giant JD.com exceeded market expectations for quarterly revenue on Thursday, as deep discounts and price cuts encouraged robust spending from consumers, driving up strong year-end sales.
The company reported total revenue of 346.99 billion yuan ($47.91 billion) for the fourth quarter, a 13.4% increase over the year earlier. Analysts were expecting revenue of 332.35 billion yuan, according to data compiled by LSEG.
($1 = 7.2430 Chinese yuan renminbi)
(Reporting by Deborah Sophia in Bengaluru; Editing by Shilpi Majumdar)
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