Three of China's biggest tech companies are expected to report that they ra...
BENGALURU - Three of China’s biggest tech companies are expected to report that they ramped up or broadly maintained their pace of quarterly spending to develop new technology and push into relatively new markets, as current growth drivers stall.
Social media and gaming company Tencent, search engine provider Baidu and e-commerce firm JD.com are expected to report an average 42 percent jump in operating expenses in the March quarter compared with a year earlier, against a 19 percent rise in revenue, according to analysts estimates from Refinitiv.
“High quality users are more expensive to acquire than before, and newer users tend to spend less initially.” “The user conversion price is much higher, but the profits will come slower ... the purchasing power of these users is much lower than existing users,” he said. JD.com CEO Richard Liu recently berated “slackers” in his firm amid reports that the company, China’s second-largest e-commerce firm, has cut many jobs.
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