JD.com Q2 2026 Revenue Falls 2.9% to RMB346.4 Billion, First Decline Since Listing; Net Profit Up 14.5%
JD. com reported second-quarter 2026 revenue of RMB346.4 billion, down 2.9% year on year, marking the first decline since its listing, due to a high base from the 2025 subsidy-driven period when revenue grew 22.4%. Net profit attributable to shareholders rose 14.5% to RMB7.1 billion, reversing four quarters of declines. Non-GAAP net profit increased 20.3% to RMB8.9 billion. Operating profit was RMB4.5 billion with a 1.3% margin, turning profitable. Shares fell over 6% following the results.
JD. com released its second-quarter 2026 results on the evening of August 13. Revenue for the quarter was RMB346.401 billion, down 2.9% year on year, marking the first negative growth since its listing. The decline was mainly due to a high base in the same period of 2025, when revenue reached RMB356.66 billion, up 22.4% year on year, the fastest growth since the first quarter of 2022, driven by the national trade-in subsidy policy.
Despite the revenue decline, JD. com's profitability improved. In the second quarter of 2026, net profit attributable to ordinary shareholders was RMB7.1 billion, up 14.5% year on year, reversing a trend of four consecutive quarters of year-on-year declines. Under non-GAAP measures, net profit attributable to ordinary shareholders was RMB8.9 billion, up 20.3% year on year. Operating profit for the quarter was RMB4.5 billion, with an operating margin of 1.3%, turning profitable on a year-on-year basis.