Shares of JD.com (NASDAQ: JD) were moving higher today after the Chinese e-commerce company topped estimates in its first-quarter earnings report and announced a new CEO.

As of 3:04 p.m. ET, the stock was up 6.6% on the news.

Top-line growth was sluggish as revenue increased just 1.4% to $35.4 billion, a reflection of intensifying competition and difficulty rebounding from years of zero-COVID restrictions.

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Source Fool.com