TLDR
- JD.com beat quarterly revenue estimates with 22.4% growth to 356.66 billion yuan ($49.73 billion)
- U.S.-listed shares rose about 3% in premarket trading following the earnings beat
- Company benefited from record sales during China’s 618 shopping festival with over 2.2 billion orders
- Net income dropped to 6.2 billion yuan from 12.6 billion yuan year-over-year
- JD.com expanding globally with 2.2 billion euro bid for German electronics retailer Ceconomy
JD.com delivered a solid revenue performance in the second quarter, beating Wall Street expectations and sending shares higher in premarket trading. The Chinese e-commerce giant reported revenue growth of 22.4% to reach 356.66 billion yuan ($49.73 billion).
This figure surpassed analysts’ average estimate of 331.63 billion yuan, according to LSEG data. The revenue beat provided relief to investors who had been concerned about the company’s recent investments in food delivery.
U.S.-listed shares of JD.com climbed approximately 3% in premarket trading following the earnings announcement. The stock has faced pressure this year due to concerns about China’s economic environment and the company’s expansion into new business areas.
https://t.co/54CHWwgxjv, $JD, Q2-25. Results:
📊 Adj. EPS: $0.69 🟢
💰 Revenue: $49.8B 🟢
📈 Net Income: $862M
🔎 Revenue grew 22% YoY, but profits declined sharply due to higher marketing spend and investments in new businesses. pic.twitter.com/RXp02HdiqS— EarningsTime (@Earnings_Time) August 14, 2025
The strong revenue growth came despite challenging conditions in China’s consumer market. Economic pressures and trade uncertainty have kept consumer demand muted across the country.
JD.com has responded to these challenges by implementing deep discounts and promotions. The company has also benefited from government subsidies designed to stimulate consumer spending.
Record Shopping Festival Performance
The quarter included China’s 618 shopping festival, which proved to be a major driver of growth. This mid-year shopping event delivered record results for JD.com across multiple metrics.
Total gross merchandise value during the 618 festival jumped 15.2% to reach an all-time high of 855.6 billion yuan. The figure represents the total value of goods sold across the platform during the event.
The number of users placing orders during the 618 festival more than doubled compared to the previous year. JD.com processed over 2.2 billion orders across its online, offline, and food delivery platforms.
This performance helped offset some of the broader economic headwinds facing Chinese retailers. The festival results demonstrate the company’s ability to drive consumer engagement through targeted promotions.
Profit Picture Shows Mixed Results
While revenue exceeded expectations, the profit story was less straightforward. Net income attributable to ordinary shareholders fell to 6.2 billion yuan for the quarter.
This represented a decline from the 12.6 billion yuan reported in the same period last year. The drop reflects increased investments in new business areas and competitive pressures.
JD.com reported adjusted net income of 7.4 billion yuan ($1.0 billion) for the quarter. This figure beat analyst expectations of $829 million, providing some consolation for the year-over-year decline.
The company’s food delivery business has been a particular area of concern for investors. JD.com entered this competitive market in February, going head-to-head with established players Meituan and Alibaba’s Ele.me.
CEO Sandy Xu addressed these concerns during the earnings call. She noted that food delivery had “made healthy progress during the quarter in metrics such as order volume growth, merchant base expansion, full-time rider recruitment.”
Global Expansion Push
JD.com is pursuing opportunities beyond China’s borders as domestic growth faces headwinds. Last month, the company made a bid to acquire German electronics retailer Ceconomy.
The proposed deal values Ceconomy at 2.2 billion euros ($2.57 billion). The acquisition would give JD.com a foothold in the European retail market and strengthen its global presence.
This move represents part of JD.com’s strategy to diversify its revenue sources. The company is looking to reduce its dependence on the Chinese market as competition intensifies at home.
The earnings results come after a challenging period for Chinese tech stocks. However, recent positive earnings from companies like Tencent have provided some support to the sector.
JD.com’s food delivery business processed over 2.2 billion orders during the 618 festival, with CEO Sandy Xu reporting healthy progress in order volume growth and merchant base expansion during the second quarter.
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