JD.com Profit Slumps Amid Heavy Food-Delivery Spending

Core Insights - The Chinese e-commerce giant experienced a 55% drop in quarterly profit as it continues to expand into the competitive food-delivery sector and other new business ventures [1] Company Summary - The company is focusing on the food-delivery market, which is characterized by high competition [1] - The significant decline in profit indicates challenges faced during this expansion phase [1] Industry Summary - The food-delivery space is becoming increasingly competitive, impacting profitability for companies entering this market [1] - The shift towards new business areas may require substantial investment, affecting short-term financial performance [1]