The earnings call highlighted strong revenue growth and improvements in core retail profitability, driven by robust user engagement and supply chain capabilities. However, significant investments in new business initiatives like food delivery have impacted short-term profitability and cash flow. While the long-term outlook remains positive, the current financial impact of these investments presents challenges.

Company Guidance -

Q3 2025

During JD.com's second quarter 2025 earnings call, the company reported a robust year-on-year revenue growth of 22%, reaching RMB 357 billion. The electronics and home appliances category saw a 23% increase in revenues, while general merchandise revenues rose by 16%. JD Retail's operating profit improved by 38% year-on-year to RMB 13.9 billion, with an operating margin expansion to 4.5%. The company also noted a significant rise in quarterly active customers, which grew by over 40%, and a similar increase in user shopping frequency. Despite a decrease in non-GAAP net income attributable to ordinary shareholders to RMB 7.4 billion due to investments in new businesses like JD Food Delivery, JD remains confident in its core retail business and its strategic initiatives to drive long-term sustainable growth.

Solid Top-Line Growth

JD.com reported a solid top-line growth of 22% year-on-year in the second quarter, with total revenues reaching RMB 357 billion.

JD Retail Profitability Improvement

JD Retail's non-GAAP operating profit increased by 38% year-on-year to RMB 13.9 billion in the second quarter, with an operating margin of 4.5% up from 3.9% in the same period last year.

Record User Growth and Engagement

Quarterly active customers (QAC) accelerated notably to over 40% year-on-year in Q2, with shopping frequency on JD's platform rising by over 40%. JD Plus members saw an even faster shopping frequency growth of over 50% year-on-year.

Strong Performance in Electronics and Home Appliances

Revenues in electronics and home appliances were up 23% year-on-year, driven by strong supply chain capabilities.

General Merchandise Growth

General merchandise business delivered strong performance with revenues up 16% year-on-year, maintaining double-digit growth for major categories like supermarkets and fashion.

JD (JD) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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JD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 13, 2025	2025 (Q3)	0.36 / -	1.209	―	―	―
Aug 14, 2025	2025 (Q2)	0.51 / 0.69	1.303	-46.90% (-0.61)
May 13, 2025	2025 (Q1)	0.99 / 1.17	0.788	48.59% (+0.38)
Mar 06, 2025	2024 (Q4)	0.86 / 1.03	0.738	40.00% (+0.30)
Nov 14, 2024	2024 (Q3)	1.05 / 1.21	0.933	29.55% (+0.28)
Aug 15, 2024	2024 (Q2)	0.87 / 1.30	0.75	73.65% (+0.55)
May 16, 2024	2024 (Q1)	0.65 / 0.79	0.663	18.91% (+0.13)
Mar 06, 2024	2023 (Q4)	0.65 / 0.74	0.67	10.19% (+0.07)
Nov 15, 2023	2023 (Q3)	0.82 / 0.93	0.873	6.86% (+0.06)
Aug 16, 2023	2023 (Q2)	0.69 / 0.75	0.565	32.76% (+0.19)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

JD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 14, 2025	$32.51	$31.58	-2.86%
May 13, 2025	$36.05	$37.25	+3.33%
Mar 06, 2025	$43.76	$43.92	+0.37%
Nov 14, 2024	$35.69	$33.35	-6.56%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.