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China's JD.com beats first-quarter revenue estimates

Reuters
FILE PHOTO: A sign of China's e-commerce company JD.com is seen at CES (Consumer Electronics Show) Asia 2016 in Shanghai, China, May 12, 2016. REUTERS/Aly Song/File Photo

(Reuters) - JD.com Inc beat analysts' estimates for first-quarter revenue on Friday, boosted by steady sales in its core e-commerce business.

The company posted revenue of 121.1 billion yuan ($17.77 billion) for the first quarter ending March 31, compared with analysts' estimate of 120.11 billion yuan, according to IBES data from Refinitiv.

JD.com posted a net gain of 4.96 yuan per American depositary share, compared with a gain of 1.04 yuan a year earlier.

(Reporting by Sayanti Chakraborty in Bengaluru and Josh Horwitz in Shanghai; Editing by Shounak Dasgupta)