JD.com earnings: date, guidance and what to watch
JD.com’s next results are expected on November 12, 2026. Watch whether returning customers and marketplace activity grow profitably after incentives fade.
What has JD.com guided for the second half of 2026?
JD’s Q2 2026 revenue fell 2.9%. Finance chief Ian Su Shan said group revenue should return to positive growth in the second half of 2026, while JD Retail, its core shopping business, should return to growth in Q3.
Management also expects stronger group profit growth and substantially smaller food-delivery losses in the second half. But a subsidized delivery order creates value only if the customer later shops often enough, and profitably enough, to cover the cost of attracting and serving them.
What is JD.com’s revenue and profit trend?
JD.com is a Chinese commerce and delivery company whose accounts combine retail, logistics and newer bets. Read together, they show a business that grew faster in 2025 but converted less of that activity into operating profit and cash, while its latest quarter offers a promising but incomplete repair.
Revenue declined from the prior-year quarter, while gross margin and operating income improved. JD therefore earned more from a smaller revenue base. That is evidence of better economics, not proof that demand had returned.
| Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 346,401 | 315,694 | 352,284 | 299,059 | 356,660 | 301,082 | 346,986 | 260,387 |
| Gross margin | 17.1% | 16.8% | 15.6% | 16.9% | 15.9% | 15.9% | 15.3% | 17.3% |
| Operating income | 4,547 | 3,807 | -5,849 | -1,051 | -859 | 10,533 | 8,491 | 12,044 |
| Net income | 7,129 | 5,102 | -2,713 | 5,276 | 6,178 | 10,890 | 9,854 | 11,731 |
| EPS, diluted | 2.51 | 1.77 | -1.04 | 1.69 | 2.07 | 3.59 | 3.23 | 3.86 |
What this means. The capital spending amounts subtract money from selling old equipment, so they may be lower than the total amount the company actually spent.
What should I watch in JD.com’s next results?
Q3 results are expected on November 12, 2026. Watch purchasing users, purchase frequency, third-party purchasing users and third-party orders using consistent definitions. A third-party seller is an independent merchant using JD’s marketplace rather than selling inventory owned by JD. More marketplace orders can bring commissions, advertising and logistics revenue without requiring JD to own every product.