JD.com Q1 Revenues Rise 4.9% to RMB315.7B; Repurchases US$631M
JD.com first quarter net revenues rose 4.9% year-on-year to RMB315.7 billion, while GAAP net income fell to RMB5.1 billion and non-GAAP net income declined to RMB7.4 billion. Retail operating margin expanded to 5.6%, and the company repurchased US$631 million of shares, representing 1.6% of outstanding stock, leaving US$1.4 billion capacity.
1. First Quarter Financial Results
JD.com reported net revenues of RMB315.7 billion for the first quarter of 2026, up 4.9% year-on-year. GAAP net income declined to RMB5.1 billion from RMB10.9 billion, while non-GAAP net income fell to RMB7.4 billion from RMB12.8 billion; diluted EPS were RMB3.54 (GAAP) and RMB5.12 (non-GAAP).
2. JD Retail Segment Performance
JD Retail generated RMB15.0 billion of income from operations in Q1, compared to RMB12.8 billion a year earlier, with operating margin rising to 5.6% from 4.9%. Strategic partnerships with home appliance leaders Midea, Haier, Hisense and TCL supported sales growth across core categories.
3. Share Repurchase Program
Under its US$5.0 billion repurchase authorization, the company bought back US$631 million of Class A ordinary shares during the quarter, representing 1.6% of outstanding shares. Remaining authorization stands at US$1.4 billion through August 2027.
4. New Businesses and Logistics Innovations
New businesses such as JD Food Delivery significantly narrowed sequential losses in Q1, while JD Logistics rolled out the upgraded LangzuTech Packer robotic arm to improve parcel sorting efficiency, marking scaled global deployment of its automation technology.