By Adam Clark

JD.com's U.S.-listed shares were falling in premarket trading after the Chinese e-commerce company reported a plunge in profit despite increasing revenue.

JD reported an adjusted profit of 1.08 billion yuan ($155 million) for the fourth quarter of 2025, compared with 11.3 billion yuan for the same period a year earlier. Analysts polled by FactSet had expected an adjusted profit of 1.37 billion yuan.

The company's quarterly net revenue came to 352.3 billion yuan, or $50.4 billion, an increase of 1.5% from the fourth quarter of 2024. That exceeded analysts' expectation of 345.56 billion yuan.

JD and its rivals, Alibaba Group Holding and Meituan, have been locked in an e-commerce price war that has weighed on margins across the sector, with the company's entry into food delivery heightening competition between the companies.

"Our core JD Retail business remained resilient, achieving double-digit growth in both revenue and operating profit for the full year despite a highly competitive industry landscape," CEO Sandy Xu said in a statement. "Our new businesses progressed in line with our strategic roadmap, with food delivery steadily expanding in scale while narrowing sequential losses every quarter since its launch."

American depositary receipts of JD were down 1.1% in premarket trading.

Write to Adam Clark at adam.clark@barrons.com

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March 05, 2026 06:08 ET (11:08 GMT)

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