JD.com Profit Slumps Amid Heavy Food-Delivery Spending
By Tracy Qu
JD.com's quarterly profit slumped as the Chinese e-commerce giant continued its push into the highly competitive food-delivery space and other new businesses.
The Beijing-based company has been locked in a food-delivery price war with Meituan and Alibaba Group as it tries to win market share, fueling concerns about thinning margins and near-term profitability.
The online retailer said Thursday that net profit for the third quarter dropped 55% from a year earlier to 5.28 billion yuan, equivalent to about $742.3 million. Analysts had expected 2.87 billion yuan, according to a FactSet consensus.
Adjusted net profit, which excludes share-based compensation and fair-value changes of long-term investments, among other items, fell 56% to 5.80 billion yuan.
Revenue for the period increased 15% to 299.06 billion yuan, exceeding analysts' expectation of 294.45 billion yuan.
JD.com, which still considers e-commerce its primary business, has moved quickly to gain a foothold in the food-delivery sector. It entered the fast-growing market earlier this year, using heavy subsidies to lure customers away from Meituan, the market leader, and Ele.me, the No. 2 player.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
November 13, 2025 05:10 ET (10:10 GMT)
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