JD.com Posts First Loss in Four Years on Weak Chinese Spending

JD.com Inc. reported its first quarterly loss in nearly four years following a costly foray into food delivery, despite government subsidies aimed at boosting demand for big-ticket items like home appliances.

China’s top online retailer by revenue posted a tepid 1.5% rise in sales, reaching 352.3 billion yuan ($51.1 billion) for the quarter ended December and just beating the average analyst projection of 349.9 billion yuan. It posted a quarterly net loss of 2.7 billion yuan, its first since 2022. Its shares rose about 1% in extended trading.