JD.com ADRs rose 2.3% in premarket trading on Thursday, as the business topped third-quarter sales and profit projections thanks to significant online shopping on its platform.

As the second wave of the pandemic kept people home in China, leading to people shopping online for groceries, furniture, books, and electronics, net revenue for the September quarter was RMB219 billion ($134 billion), up roughly 26% year on year.

jd-com-logo | Dragon Social

The company's product sector, which includes online retail sales, saw a 23 % increase in sales. Services revenue increased by almost 43%, accounting for roughly 15% of overall revenue.

JD.com had 552 million yearly active customer accounts at the end of September, up 25% from a year before.

As marketing expenses, higher procurement and warehousing charges, and share-based incentives to employees offset revenue increases, adjusted profit per ADR fell to 49 cents.

Earlier this year, the firm recorded great sales during its annual Singles' Day online sales event. Transactions on the platform were 349.1 billion yuan, up roughly 29% from the previous year.

In contrast, larger rival Alibaba had a more muted performance, with gross merchandise volume rising 8.5 % to 540.3 billion yuan ($84.5 billion), the first time growth at China's largest eCommerce site dipped below 10% in history.