Chinese e-commerce giant JD.com (JD) reported better-than-expected first quarter sales and earnings Tuesday. U.S.-listed JD stock gained in early trading.

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The Beijing-based JD reported adjusted earnings of 5.65 Chinese yuan (78 cents) per American depositary share on sales of 260 billion yuan ($36 billion) for the March-ending quarter. Both numbers bested the 4.67 yuan earnings per ADS and 258 billion yuan revenue analysts had projected on average for JD heading into the report, according to FactSet.

Adjusted earnings increased 18.7% in local currency, while sales increased 7%.

On the stock market today, JD stock is up 4% at 34.90 in recent pre-market action.

JD Revenue Growth Accelerates

JD is among China’s largest e-commerce companies, competing with Alibaba (BABA) and PDD Holdings (PDD). The company also provides supply-chain technology and services.

Last year, U.S.-listed JD shares fell nearly 50% amid concerns about the Chinese economy and slowing sales growth. This quarter’s 7% sales growth represents an acceleration from the 3.6% year-over-year growth in the firm’s December quarter and 1.7% growth in the September quarter.

Similar to Alibaba, JD has focused on “price competitiveness” amid a rising challenge from PDD’s discount-focused Pinduoduo e-commerce site. PDD also owns global discount e-commerce site Temu.

JD Chief Executive Sandy Xu said in a press release Thursday that JD’s “combination of selection, speed, quality and price continues to attract Chinese consumers nationwide.”

Sales for JD’s retail business increased 7% year-over-year to 226.8 billion yuan ($31.4 billion).

JD Stock: Technical Ratings

Heading into Thursday trading, JD shares had gained 19% this year but remain down by about 8% compared to 12 months ago.

Coming into the report, JD stock had an IBD Composite Rating of  83 out of 99, according to IBD Stock Checkup. The score combines five separate proprietary ratings into one rating. The best growth stocks have a Composite Rating of 90 or better.

Further, JD’s IBD Relative Strength Rating was 80 out of 99.

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