JD Profit Beats Estimates After China Curbs Food Delivery War

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By Bloomberg News

May 12, 2026 at 9:54 AM UTC

JD.com Inc. reported better-than-expected profit after Beijing clamped down on its fierce food delivery battle with Alibaba Group Holding Ltd. and Meituan.

Net income fell 53% to 5.1 billion yuan ($750 million) in the quarter ended March, less sever than the 65% drop forecast by analysts. Revenue was 315.7 billion yuan, while analysts on averaged looked for 311.4 billion yuan.