JD.com (NASDAQ: JD) reported fourth-quarter earnings that fell short of analyst expectations, while revenue came in broadly in line with forecasts. Shares edged about 1% lower intra-day Thursday.
The Chinese e-commerce company posted earnings per share of RMB0.57 for the quarter, missing the consensus estimate of RMB0.67. Revenue increased 1.5% year over year to RMB352.28 billion, roughly matching the consensus forecast of RMB352.89 billion.
Adjusted EBITDA for the fourth quarter of 2025 was negative RMB0.8 billion, compared with positive RMB12.5 billion in the same period a year earlier. The non-GAAP EBITDA margin stood at negative 0.2%, versus 3.6% in the fourth quarter of 2024.
JD Retail reported operating income of RMB9.8 billion during the quarter, slightly lower than RMB10.0 billion a year earlier. The segment’s operating margin was 3.2%, compared with 3.3% in the fourth quarter of 2024.
