Aug 23 Reuters Chinese ecommerce giant JD.com Inc, beat Wall Street estimates for quarterly revenue on Tuesday as lockdowns in China to control the coronavirus boosted online shopping and the company39;s 618 shopping event.

The company reported secondquarter revenue of 267.6 billion yuan 39.07 billion, up 5.4 year on year, topping analysts39; average estimate of 262.31 billion yuan, according to IBES data from Refinitiv. Revenue rose 11 in the first half to 507.3 billion yuan.

Sales in its product segment, which includes online retail sales, rose 2.9 in the quarter, while those from services such as logistics and marketing jumped 21.9.

Zephirin Group analyst Lenny Zephirin said JD.com is in a class of its own as timely contractual agreements with luxury brands were key to its profit beat in the quarter.

We expect management to continue to push further into the Luxury categories for the upcoming holiday quarters, particularly the fourth quarter. The logistics segment should show a gradual improvement this quarter despite COVID19 lockdowns, he said.

A number of Chinese cities including financial hub Shanghai experienced different degrees of lockdowns in the second quarter which seriously disrupted transport.

The second quarter is the most challenging quarter since we39;re listed, JD.com Chief Executive Xu Lei said on a call with analysts before the U.S. market opened. He said the challenges were mainly due to the pandemic.

JD.com said net income attributable to…