JD.com Inc

JD.com posted a notable miss in its first quarter of 2025, with earnings per share of $1.16 falling 83.63% short of the $7.09 consensus estimate, while revenue of $41.49 billion came in 85.72% below expectations and declined 84.0% year-over-year — figures that, in context, reflect currency conversion and reporting differences between ADS-level and RMB-denominated results rather than an operational collapse. In local-currency terms, the underlying business told a markedly different story: net revenues rose 15.8% in yuan terms, driven by 16.2% growth in product revenues and 14.0% growth in services, with the flagship JD Retail segment expanding its operating margin to 4.9%. The quarter's most material wildcard was the February launch of JD Food Delivery, which widened New Businesses operating losses significantly as the company leaned into what management characterized as a synergistic extension of its logistics and retail ecosystem. Looking ahead, JD announced an export-to-domestic procurement program targeting at least $200.00 billion in goods, while institutional investors holding 46% of shares will be watching closely whether these <a href="https://247wallst.com/investing/2025/09/04/3-high-growth-tech-stocks-set-to-double-by-2027/">high-growth bets</a> translate into durable long-term returns.