JD.com Expected to Post 4Q Loss -- Earnings Preview

Dow Jones03-04 13:02

By Tracy Qu

JD.com is scheduled to report fourth-quarter results on Thursday. Here's what you need to know:

NET PROFIT FORECAST: The Chinese e-commerce company is expected to post a net loss of 203.6 million yuan, equivalent to $29.51 million, according to the consensus estimate in a FactSet poll. That compares with a net profit of 9.85 billion yuan net profit in the year-earlier period.

REVENUE FORECAST: The Beijing-based company's quarterly revenue is estimated at 345.56 billion yuan, according to FactSet, slightly down from 346.99 billion yuan a year earlier.

JD.com's Hong Kong-listed shares fell 19% in the final quarter of 2025 amid a broader correction in tech stocks. Some investors took profits after the Hang Seng Tech Index rallied in September.

WHAT TO WATCH:

--Profit: Citi analysts cut their net profit forecasts for 2025-27 by 4.5%, 7.9% and 1.9%, respectively, citing reduced trade-in support and weaker macro and consumer sentiment, according to a recent research note. They maintain a buy rating, but lowered their target price for its ADRs to US$34.00 from US$37.00. The ADRs last closed at US$25.64.

--Revenue: Total revenue is likely to be flat, while revenue of JD's retail business is likely to decline by 3%, Jefferies analysts said. Electronics and home-appliance sales are expected to be the main drag, potentially falling about 19% on year during the quarter. Jefferies maintains a buy rating, with a $49 target price.

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

(END) Dow Jones Newswires

March 04, 2026 00:02 ET (05:02 GMT)

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That compares with a net profit of 9.85 billion yuan net profit in the year-earlier period. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  REVENUE FORECAST: The Beijing-based company's quarterly revenue is estimated at 345.56 billion yuan, according to FactSet, slightly down from 346.99 billion yuan a year earlier. \n</p>\n<p>\n  JD.com's Hong Kong-listed shares fell 19% in the final quarter of 2025 amid a broader correction in tech stocks. Some investors took profits after the <a href=\"https://laohu8.com/S/HSNGF\">Hang Seng</a> Tech Index rallied in September. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  WHAT TO WATCH: \n</p>\n<p>\n  --Profit: Citi analysts cut their net profit forecasts for 2025-27 by 4.5%, 7.9% and 1.9%, respectively, citing reduced trade-in support and weaker macro and consumer sentiment, according to a recent research note. They maintain a buy rating, but lowered their target price for its ADRs to US$34.00 from US$37.00. 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Here's what you need to know: \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  NET PROFIT FORECAST: The Chinese e-commerce company is expected to post a net loss of 203.6 million yuan, equivalent to $29.51 million, according to the consensus estimate in a FactSet poll. That compares with a net profit of 9.85 billion yuan net profit in the year-earlier period. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  REVENUE FORECAST: The Beijing-based company's quarterly revenue is estimated at 345.56 billion yuan, according to FactSet, slightly down from 346.99 billion yuan a year earlier. \n</p>\n<p>\n  JD.com's Hong Kong-listed shares fell 19% in the final quarter of 2025 amid a broader correction in tech stocks. Some investors took profits after the <a href=\"https://laohu8.com/S/HSNGF\">Hang Seng</a> Tech Index rallied in September. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  WHAT TO WATCH: \n</p>\n<p>\n  --Profit: Citi analysts cut their net profit forecasts for 2025-27 by 4.5%, 7.9% and 1.9%, respectively, citing reduced trade-in support and weaker macro and consumer sentiment, according to a recent research note. They maintain a buy rating, but lowered their target price for its ADRs to US$34.00 from US$37.00. The ADRs last closed at US$25.64. \n</p>\n<p>\n  --Revenue: Total revenue is likely to be flat, while revenue of JD's retail business is likely to decline by 3%, Jefferies analysts said. Electronics and home-appliance sales are expected to be the main drag, potentially falling about 19% on year during the quarter. Jefferies maintains a buy rating, with a $49 target price. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Tracy Qu at tracy.qu@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 04, 2026 00:02 ET (05:02 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1880383366.USD","symbol_name":"东方汇理中国股票基金 A2 (C)","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2616583919","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2616583919","pubTimestamp":1772600520,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"JD.com is scheduled to report fourth-quarter results on Thursday. 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Here's what you need to know: \n\n\n \n\n\n  NET PROFIT FORECAST: The Chinese e-commerce company is expected to post a net loss of 203.6 million yuan, equivalent to $29.51 million, according to the consensus estimate in a FactSet poll. That compares with a net profit of 9.85 billion yuan net profit in the year-earlier period. \n\n\n \n\n\n  REVENUE FORECAST: The Beijing-based company's quarterly revenue is estimated at 345.56 billion yuan, according to FactSet, slightly down from 346.99 billion yuan a year earlier. \n\n\n  JD.com's Hong Kong-listed shares fell 19% in the final quarter of 2025 amid a broader correction in tech stocks. Some investors took profits after the Hang Seng Tech Index rallied in September. \n\n\n \n\n\n  WHAT TO WATCH: \n\n\n  --Profit: Citi analysts cut their net profit forecasts for 2025-27 by 4.5%, 7.9% and 1.9%, respectively, citing reduced trade-in support and weaker macro and consumer sentiment, according to a recent research note. They maintain a buy rating, but lowered their target price for its ADRs to US$34.00 from US$37.00. The ADRs last closed at US$25.64. \n\n\n  --Revenue: Total revenue is likely to be flat, while revenue of JD's retail business is likely to decline by 3%, Jefferies analysts said. Electronics and home-appliance sales are expected to be the main drag, potentially falling about 19% on year during the quarter. Jefferies maintains a buy rating, with a $49 target price. \n\n\n \n\n\n  Write to Tracy Qu at tracy.qu@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 04, 2026 00:02 ET (05:02 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport,preview","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2616583919","isCrawlerRequest":true}