JD.com Reports First Loss in Over Three Years
By Tracy Qu
JD.com posted its first quarterly loss in more than three years as the food-delivery subsidy war in China continued to take a toll on the e-commerce giant.
The loss underscored the intense pressure the Beijing-based company has come under as it vies for market share in the competitive industry. JD.com has been locked in an intense food-delivery price battle with Meituan and Alibaba Group since entering the market in early 2025, fueling concerns about thin margins and near-term profitability.
The online retailer on Thursday swung to a fourth-quarter net loss of 2.71 billion yuan, equivalent to $392.9 million, its first loss since the first quarter of 2022. That compared with net profit of 9.85 billion yuan a year earlier. Analysts had expected a 203.6 million yuan loss, according to a FactSet consensus estimate.
Excluding share-based compensation and fair-value changes of long-term investments, among other items, adjusted net profit was to 1.08 billion yuan, down sharply from 11.29 billion yuan the previous year.
Revenue for the period rose 1.5% to 352.28 billion yuan, exceeding analysts' expectation of 345.56 billion yuan.
The company approved an annual cash dividend of 50 cents a share, representing an aggregate of $1.4 billion to be paid to shareholders.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
March 05, 2026 05:49 ET (10:49 GMT)
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