JD.com Profit, Revenue Beat Expectations as Food-Delivery Losses Narrow

By Tracy Qu

JD.com reported better-than-expected results in the second quarter as the Chinese e-commerce titan made steady progress in narrowing losses at its food-delivery business.

The online retailer is in recovery mode after its costly entry into China's highly competitive food-delivery market a year and a half ago. Aggressive investments to capture market share has hit its bottom line hard, briefly pushing JD.com into a loss late last year before it returned to a profit at the start of 2026.

The Beijing-based company on Thursday said net profit was 7.13 billion yuan, equivalent to $1.06 billion, for the three months ended June. That rose 15% from a year earlier and was 40% higher than the previous quarter.

Excluding share-based compensation and fair-value changes of long-term investments, among other items, adjusted net profit was 8.93 billion yuan, up 21% from a year ago.

Revenue declined 2.9% to 346.40 billion yuan but still beat market estimates.

Analysts had expected net profit of 6.71 billion yuan on revenue of 339.93 billion yuan, according to a FactSet consensus estimate.

The quarterly results show "resilient and high-quality operations," Chief Executive Sandy Xu said.

"Despite near-term revenue headwinds, we achieved strong bottom-line growth, marking a clear inflection in our profit trajectory," Xu said. "This improvement was primarily driven by solid profitability in our core JD Retail business and continued narrowing of loss at JD Food Delivery."

Ahead of the results, HSBC analysts said that the company could sustain its earnings improvement as food-delivery promotions ease and monetization for the segment accelerates.

China's weak domestic consumption remains a drag on JD.com's core business, however, with sales at the nation's second-largest annual shopping festival signaling persistent softness. Gross merchandise volumes across major e-commerce platforms grew at a slower pace during this year's "618" shopping event, according to data provider Syntun.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

August 13, 2026 07:02 ET (11:02 GMT)