JD Stock Slips Pre-Market: JD.com Turns Loss-Making In Q4, Investments Pressure Margins

The Beijing-based company said its revenue for the fourth quarter rose 1.5% year-on-year to $50.4 billion, while the company posted a net loss of roughly $0.4 billion.

JD.com Inc. (JD) on Thursday reported its financial results for the fourth quarter (Q4) and full year of 2025, revealing modest revenue growth but a sharp decline in profitability as the Chinese e-commerce giant increased spending on operations, technology, and marketing. 

The Beijing-based company said its revenue for Q4 rose 1.5% year-on-year to $50.4 billion, while the company posted a net loss of roughly RMB2.7 billion ($0.4 billion) for the fourth quarter, compared with a profit of RMB9.9 billion during the same quarter in 2024. 

Diluted net loss per American depository share (ADS) was RMB2.07 ($0.29) for Q4, compared to a net income of RMB6.47 last year. JD.com attributed the decline largely to heavier investment in new initiatives and infrastructure.

JD stock traded over 1% lower in Thursday’s premarket. 

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