JD.com Grows Fastest Since 2022 Amid Contest with Meituan

JD.com Inc.’s revenue grew at its fastest pace in three years after stimulus measures from Beijing and an aggressive drive to compete with Meituan in food delivery helped revitalize consumer spending.

Its American depositary receipts rose as much as 3.5% in New York after the company reported a 16% rise in sales to 301.1 billion yuan ($42 billion) for the March quarter. JD is now handling close to 20 million food orders daily, executives said Tuesday, surging from just a month ago and already about a fifth of Meituan’s 2024 peak of about 98 million.