JD.com reported a 2.9% decline in net revenue for the quarter ended June 30, 2026, to 346.4 billion yuan, marking its first quarterly revenue drop in more than 10 years [1, 2, 3]. Despite this decline, the company’s revenue beat analyst estimates, which ranged between 342.1 billion yuan and 344.6 billion yuan [2, 3].
Net profit rose to 7.1 billion yuan in the quarter, up from 6.2 billion yuan a year earlier. Non-GAAP net profit increased 20% year-on-year, reaching 8.9 billion yuan [3]. JD.com CEO Sandy Xu said, "Despite near-term revenue headwinds, [JD.com] achieved strong bottom line growth, marking a clear inflection in our profit trajectory" [2].
Xu also highlighted that food delivery losses narrowed during the quarter and the core retail business remained profitable, helping to drive profit growth despite revenue challenges [2, 3]. The company’s 618 shopping festival was extended longer than last year, which helped revenue exceed forecasts even amid the overall decline [3].
JD.com faces issues including fines, peaking food delivery price wars, rising raw material costs, weak consumer demand, and a sluggish retail environment in China [1, 3]. However, the company expects sales of electronics and home appliances to improve in the second half of 2026. Xu said, "Looking into the second half, while the ongoing rising consumer electronic price may continue to weigh on consumer demand, we remain confident that this category will grow" [3].
JD.com publicly released the quarterly earnings and CEO comments on August 13, 2026, providing guidance and updates on the company’s outlook for the rest of the year [1, 2, 3].
