China-based JD.com, Inc. (NASDAQ: JD) reported fiscal first-quarter results on Tuesday. The company reported a quarterly revenue growth of 15.8% year-over-year to $41.5 billion, beating the analyst consensus estimate of $40.2 billion.
JD posted an adjusted net income per ADS of $1.16, beating the analyst consensus estimate of $1.05.
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JD.com’s net product revenue increased by 16.2% Y/Y at $33.39 billion. Net service revenues rose 14.0% Y/Y to $8.1 billion.
JD Retail revenue climbed 16.3% Y/Y to $36.36 billion, Logistics revenue gained 11.5% Y/Y to $6.47 billion, and the new business revenues grew 18.1% Y/Y to $793 million.
JD.com’s marketing expenses rose 13.9% to $1.5 billion in the quarter, forming 3.5% of revenues, down by 10 bps.
Operating margin was 3.5% for the quarter, compared to 3.0% Y/Y. Adjusted operating margin improved by 50 bps Y/Y to 3.9%. JD Retail’s operating margin rose 80 bps to 4.9%.
Adjusted EBITDA increased 27.0% Y/Y to $1.9 billion, with a 4.6% margin, up by 50 bps.
JD.com used $2.98 billion in free cash flow for the quarter and $2.52 billion in operating cash flow. The company held $28.0 billion in cash and equivalents as of March 31, 2025.
CEO Sandy Xu attributed the quarterly results to improving consumer sentiment and continued enhancements to JD’s supply chain capabilities and user experience.
Price Action: JD stock is up 5.31% at $37.97 at the last check on Tuesday.
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