---
title: "\"Big Banks\" Citigroup: JD.com's total revenue and non-GAAP net profit in the third quarter both exceeded expectations, maintaining a \"Buy\" rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/265857430.md"
description: "Citi published a research report stating that JD.com's total revenue and non-GAAP net profit for the third quarter both exceeded expectations, growing by 14.9% and 16.1%, respectively. Revenue from electronics and home appliances increased by 4.9%, while general merchandise revenue grew by 18.8%. Citi maintains a target price of $44 for JD.com's U.S. stock and a \"Buy\" rating"
datetime: "2025-11-14T06:58:17.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/265857430.md)
  - [en](https://longbridge.com/en/news/265857430.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/265857430.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/265857430.md) | [繁體中文](https://longbridge.com/zh-HK/news/265857430.md)


# "Big Banks" Citigroup: JD.com's total revenue and non-GAAP net profit in the third quarter both exceeded expectations, maintaining a "Buy" rating

Citigroup published a research report indicating that JD.com (09618.HK)(JD.US) achieved a total revenue of RMB 299.1 billion in the third quarter, a year-on-year increase of 14.9%, surpassing the bank's and market forecasts by 3.8% and 1.6%, respectively. The non-GAAP net profit reached RMB 5.8 billion, also exceeding the bank's and market forecasts by 16.1% and 39.5%.

The bank further mentioned that by business segment, JD.com's revenue from electronics and home appliances grew by 4.9% year-on-year to RMB 128.6 billion, exceeding the bank's forecast by 1%; general merchandise revenue increased by 18.8% year-on-year to RMB 97.5 billion, surpassing the forecast by 3.3%. JD.com's retail business revenue rose by 11.4% year-on-year to RMB 250.6 billion.

The bank maintains a target price of $44 for the group's U.S. stock and a "Buy" rating

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