JD.com losses surge on soaring spending and investment

JD’s disappointing showing comes a day after top shareholder Tencent Holdings Ltd. reported its first profit drop in 13 years, souring sentiment on Chinese tech companies

FILE PHOTO: A JD.com sign is seen during the fourth World Internet Conference in Wuzhen, Zhejiang province, China, December 4, 2017. REUTERS/Aly Song/File Photo

JD.com Inc. posted a blowout loss due to increased spending and said investments in technology and logistics could affect profit forecasts for the rest of the year amid rising competition in China’s e-commerce market.

The net loss from continuing operations surged to 2.2 billion yuan ($319 million) in the quarter that ended in June, about 8 times larger than analysts expected. The Beijing-based company expects sales in the current quarter of between 104.5 billion yuan and 109 billion yuan, with the top of the range slightly below estimates.

Print option is available for subscribers only.
SUBSCRIBE NOW
Copyright © 2025 South China Morning Post Publishers Ltd. All rights reserved.