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Retail delivers surprise as it beats earnings expectations

Rivals Alibaba posts flat growth while Tencent records revenue drop

Employees load parcels into an autonomous delivery vehicle at's smart logistics center in Beijing.   © Reuters

HONG KONG -- posted better-than-expected quarterly results on Tuesday, pushing the online retailer's share price up over 2% on the Nasdaq exchange.

The Beijing-based company reported revenue of 267.6 billion yuan ($39.1 billion) for the April-June period for a year-over-year increase of 5.4%, higher than the average 262.31 billion yuan estimate of 35 analysts surveyed by Refinitiv.

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