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China's beats quarterly revenue estimates, shares rise

SHANGHAI (Reuters) - China's Inc <JD.O> beat analysts' estimates for quarterly revenue on Friday, boosted by stronger sales in its core e-commerce business, sending its shares up nearly 7% before the bell. The company attributed the strong results to growth in lower-tier cities, a key area of expansion for China's e-commerce giants as they tap out their existing base of users in China's wealthier regions. The company's total net revenue rose 28.7% to 134.8 billion yuan ($19.27 billion) in the third quarter ended Sept. 30. Internet companies and bigger rival Alibaba Group Holding Ltd <BABA.N> are looking at other areas for diversification to deal with slowing growth in domestic e-commerce business, against the backdrop of the ongoing U.S.-China trade tensions.

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