By Tracy Qu

JD.com is scheduled to report fourth-quarter results on Thursday. Here's what you need to know:

NET PROFIT FORECAST: The Chinese e-commerce company is expected to post a net loss of 203.6 million yuan, equivalent to $29.51 million, according to the consensus estimate in a FactSet poll. That compares with a net profit of 9.85 billion yuan net profit in the year-earlier period.

REVENUE FORECAST: The Beijing-based company's quarterly revenue is estimated at 345.56 billion yuan, according to FactSet, slightly down from 346.99 billion yuan a year earlier.

JD.com's Hong Kong-listed shares fell 19% in the final quarter of 2025 amid a broader correction in tech stocks. Some investors took profits after the Hang Seng Tech Index rallied in September.

WHAT TO WATCH:

--Profit: Citi analysts cut their net profit forecasts for 2025-27 by 4.5%, 7.9% and 1.9%, respectively, citing reduced trade-in support and weaker macro and consumer sentiment, according to a recent research note. They maintain a buy rating, but lowered their target price for its ADRs to US$34.00 from US$37.00. The ADRs last closed at US$25.64.

--Revenue: Total revenue is likely to be flat, while revenue of JD's retail business is likely to decline by 3%, Jefferies analysts said. Electronics and home-appliance sales are expected to be the main drag, potentially falling about 19% on year during the quarter. Jefferies maintains a buy rating, with a $49 target price.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

March 04, 2026 00:02 ET (05:02 GMT)

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