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Chinese e-commerce company $JD reported a narrower in 2Q16 loss on higher revenues. Net loss was RMB 132.1MM or $19.9MM, 74% narrower than 2Q15. Non-GAAP net income for the latest quarter was RMB 391.4MM or $58.9MM. Net revenues jumped 42% to RMB 65.2Bil or $9.8Bil, driven by higher revenue from e-commerce platform business and from direct sales.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.