What were JD.com's (NASDAQ:JD) full-year results for 2025?

JD.com reported total net revenues of RMB 1,309.1 billion ($187 billion) for fiscal year 2025, marking a 13% year-over-year increase. The company achieved a full-year net income of RMB 19.6 billion ($2.8 billion), reflecting resilient consumer demand and a focus on supply chain efficiency. Despite challenges in the fourth quarter, the company’s strong annual performance allowed it to launch a significant capital return program for investors.

How did JD.com (NASDAQ:JD) perform in the fourth quarter of 2025?

In Q4 2025, JD.com posted revenues of RMB 352.3 billion, representing a modest 1.5% increase compared to the previous year. Despite the slight revenue growth, the company experienced a net loss attributable to shareholders of RMB 2.7 billion ($385 million), primarily due to non-cash impairment charges and strategic investments in its low-price ecosystem.

What was the cause of JD.com's (NASDAQ:JD) net loss in Q4 2025?

The net loss in Q4 was largely driven by non-cash impairment charges and strategic investments in JD.com's low-price ecosystem. The company was focusing on expanding its reach in a highly competitive year-end shopping season, which contributed to the quarterly volatility but was intended to strengthen its long-term position in the market.

What is JD.com's (NASDAQ:JD) outlook for 2026?

JD.com’s outlook for 2026 appears strong, driven by its focus on supply chain efficiency, robust consumer demand, and a continued capital return strategy. The company’s ongoing share buyback program and dividend payouts signal its confidence in future growth. However, the company will need to navigate competitive pressures and strategic investments in its ecosystem.

Retail

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JD.com posts 13% annual revenue growth and unveils $1.4B dividend

Written by Isaac FrancisPublished Mar 5, 2026, 12:00 AMLast Updated Jul 6, 2026, 8:11 AM

JD.com (NASDAQ:JD) reported a 13% increase in full-year revenue for 2025, driven by resilient consumer demand and a sharpened focus on supply chain efficiency.

While the company faced a bottom-line contraction in the fourth quarter, its robust annual profitability triggered a massive capital return program for investors.

For the fiscal year ended Dec. 31, 2025, the Beijing-based retailer posted total net revenues of RMB 1,309.1 billion ($187 billion).

The fourth quarter contributed RMB 352.3 billion to that total, representing a modest 1.5% year-on-year increase as the company navigated a highly competitive year-end shopping season.

On the earnings front, JD.com reported a full-year net income of RMB19.6 billion ($2.8 billion).

However, the fourth quarter saw a net loss attributable to shareholders of RMB2.7 billion ($385 million), reflecting non-cash impairment charges and strategic investments in its low-price ecosystem.

Despite the quarterly volatility, the company’s operating cash flow remained a pillar of strength, enabling significant payouts.

The Board of Directors approved an annual cash dividend of $1 per American Depositary Share (ADS), totaling approximately $1.4 billion.

This payout complements an aggressive share buyback strategy; JD.com repurchased approximately $3 billion worth of its shares throughout 2025.

With $2 billion still remaining under its current authorization, the company appears poised to continue its "shareholder-first" capital allocation policy into 2026.