JD.com, Inc. has announced its unaudited financial results for the first quarter of 2025, highlighting a strong start to the year. The company's net revenues reached RMB301.1 billion (US$141.5 billion), marking a 15.8% increase compared to the first quarter of 2024. This growth reflects improvements in consumer sentiment and JD.com's enhanced supply chain capabilities and user experience. The income from operations for the first quarter of 2025 was RMB10.5 billion (US$1.5 billion), up from RMB7.7 billion in the same period of the previous year. The operating margin improved to 3.5% from 3.0% in the first quarter of 2024. On a non-GAAP basis, income from operations was RMB11.7 billion (US$1.6 billion), compared to RMB8.9 billion in the first quarter of 2024, with the non-GAAP operating margin increasing to 3.9% from 3.4%. JD.com's Chief Executive Officer, Sandy Xu, attributed the positive results to strong user growth and emerging opportunities within the company's ecosystem. Chief Financial Officer Ian Su Shan noted the double-digit year-on-year growth in both product and service revenues, with a particular emphasis on the momentum of JD Retail. These achievements underscore JD.com's position for long-term, high-quality growth.
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