TLDR
- JD $JD Q2 revenue fell 2.9% year-on-year to RMB346.4 billion due to a high base effect
- EPS of ¥6.29 beat analyst estimates by ¥0.66; revenue also topped consensus
- Net income rose 14.5% year-on-year to $1.1 billion; non-GAAP EPS jumped 26.6%
- JD.com repurchased about 2.5% of ordinary stock for $1.0 billion in H1 2026
- Stock fell 3.70% in premarket trading to $30.44 following the results
JD.com (JD) posted its Q2 2026 results Thursday, and the headline number was a miss on revenue growth but a beat almost everywhere else.
$JD (JD) #earnings are out: pic.twitter.com/BLOkYWbddE
— The Earnings Correspondent (@earnings_guy) August 13, 2026
Net revenues came in at RMB346.4 billion for the quarter, down 2.9% year-on-year. The company pointed to a “high base effect” as the main reason. Still, that figure came in ahead of the consensus estimate of RMB342.7 billion.
The stock dropped 3.70% in premarket trading in New York to $30.44 per ADS. Prior to the report, JD $JD had closed at ¥31.61, down 1.25% over the past three months.
EPS came in at ¥6.29, beating the analyst estimate of ¥5.63 by ¥0.66. Non-GAAP diluted EPS per ADS rose 26.6% year-on-year to $0.93.
Net income attributable to shareholders climbed 14.5% year-on-year to $1.1 billion. Non-GAAP net income rose 20.3% to $1.3 billion.
The company swung to an operating income of RMB4.5 billion, compared to an operating loss in the same period a year ago.
JD Retail posted record peak-season operating margins, even as overall top-line growth slowed. New businesses, particularly JD Food Delivery, saw sharply reduced losses.
CEO Sandy Xu described the results as a “clear inflection” in the company’s profit trajectory, despite near-term revenue pressure.
Buybacks and Partnerships
In the first half of 2026, JD.com bought back roughly 2.5% of its ordinary stock for $1.0 billion.
The company also expanded partnerships during the quarter. It opened new JD MALL stores in high-tier cities and launched a CHANEL beauty flagship on its platform.
JD.com also secured an exclusive e-commerce deal with Costco in China and rolled out AI-powered JoyInside device integrations.
JD Logistics scaled up autonomous delivery operations during the period.
Analyst View
The most recent analyst rating on JD $JD stock is a Buy with a $39.00 price target, implying upside of around 28% from the premarket price.
In the last 90 days, the stock saw 7 positive EPS revisions and 4 negative ones.
TipRanks’ AI analyst tool rates JD as Neutral, citing slowed revenue growth, compressed margins, and a stock trading below major moving averages.
The current market cap stands at $44.2 billion, with an average daily trading volume of around 8.5 million.
InvestingPro rates JD.com’s financial health as “fair performance.”
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