China's JD.com Q2 revenue falls but profit rises

JD.com

13/08/2026 11:09

Overview
China supply chain tech provider's Q2 revenue declined 2.9% yr/yr due to high base effect
Adjusted net income and EPS for Q2 rose yr/yr, reflecting improved profitability
Company repurchased about 2.5% of ordinary shares in first half of 2026

Outlook
Company did not provide specific financial guidance for the current quarter or full year in its press release

Result Drivers
HIGH BASE EFFECT - Co said Q2 revenue declined due to a high base in the prior-year period
MARGIN IMPROVEMENT - Co attributed higher profitability to improved margins in key retail categories and a favorable revenue mix, per CFO Ian Su Shan
LOSS REDUCTION - Co said narrowing losses in New Businesses, mainly at JD Food Delivery, contributed to profit growth

Company press release: ID:nGNX9HlzRy

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
RMB 346.40 bln
 
Q2 Adjusted Net Income Per ADS
 
RMB 6.29
 
Q2 Net Income Per ADS
 
RMB 5.01
 
Q2 Adjusted Net Income
 
RMB 8.90 bln
 
Q2 Net Income
 
RMB 8.69 bln
 
Q2 Adjusted Operating Income
 
RMB 5.50 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 22 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the department stores peer group is "buy"
Wall Street's median 12-month price target for JD.com, Inc. is HK$149.00, about 21.1% above its August 13 closing price of HK$123.00
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago

Reuters Recommended Reads
Aug 13 - China's JD Logistics H1 revenue rises on customer growth, AI adoption
Aug 13 - China's JD Health interim revenue rises on user growth, product expansion
Aug 12 - Tencent Q2 revenue rises on AI services growth, profit up slightly

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)