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Revenue by Segment
Breaks down revenue by different business segments, revealing which areas are the most lucrative and where JD might face opportunities or challenges.Electronics & Home Appliances is the most volatile, showing recent Q4 weakness tied to a high prior‑year trade‑in base, while General Merchandise, Marketplace & Marketing and Logistics show steadier, accelerating growth—logistics in particular has scaled rapidly. Management is leaning into mix‑driven, margin‑accretive growth: faster services and ad revenue (including JD Food Delivery synergies) are lifting gross margin and retail operating margin, even as electronics cyclicality and investment in new businesses pressure near‑term cash flow; H2 retail rebound is pivotal for earnings momentum.
Date | Electronic and Home Appliances | General Merchandise | Marketplace and Marketing | Logistics and Other Services |
|---|---|---|---|---|
Jun 30, 2026 | ¥157.89B | ¥109.23B | ¥30.86B | ¥48.43B |
Mar 31, 2026 | ¥132.17B | ¥112.65B | ¥26.52B | ¥44.36B |
Dec 31, 2025 | ¥153.27B | ¥119.72B | ¥30.62B | ¥48.68B |
Sep 30, 2025 | ¥128.59B | ¥97.50B | ¥25.69B | ¥47.28B |
Jun 30, 2025 | ¥178.98B | ¥103.43B | ¥28.51B | ¥45.74B |
Mar 31, 2025 | ¥144.29B | ¥98.01B | ¥22.32B | ¥36.45B |
Dec 31, 2024 | ¥174.15B | ¥106.83B | ¥26.63B | ¥39.37B |
Sep 30, 2024 | ¥122.56B | ¥82.05B | ¥20.76B | ¥35.01B |
Jun 30, 2024 | ¥145.06B | ¥88.85B | ¥23.43B | ¥34.06B |
Mar 31, 2024 | ¥123.21B | ¥85.30B | ¥19.29B | ¥32.25B |