<div id="readability-page-1"><div>Nomura issued a research report stating that JD-SW (09618.HK) -1.500 (-1.153%) Short selling $582.94M; Ratio 24.003% delivered 1Q results that beat expectations, with total net revenue rising 4.9% YoY. Among them, JD Retail's operating profit increased 16% YoY to RMB15 billion, 16% above the broker's forecast.The broker noted that JD.com, Inc. management expects JD Retail revenue to record a mid- to high-single-digit YoY decline in the second quarter, affected by a high base effect, changes in subsidy policies and price increases of consumer electronics products. Nevertheless, the broker believes JD.com, Inc.'s earnings structure has improved significantly, and it raised its forecasts for 2026 and 2027 non-GAAP net profit by 15% and 5%, respectively, to reflect improved profitability of JD Retail and narrowing losses in its on-demand e-commerce business.The broker maintained its Buy rating on JD.com, Inc. (JD.US) and raised the TP from USD40 to USD41. (sl/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-14 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)</div></div>

JD just dropped its Q1 2026 earnings! Group net revenue came in at RMB 315.69 billion, beating market expectations of RMB 311.43 billion. Adjusted earnings per ADS hit RMB 5.12, blowing past analyst estimates of RMB 3.57 — a double beat on both top and bottom lines against Wall Street. Can this strong report card help JD shake off the profit shadow cast by last year's food delivery price war? What's your take?

JD just dropped its Q1 2026 earnings! Group net revenue came in at RMB 315.69 billion, beating market expectations of RMB 311.43 billion. Adjusted earnings per ADS hit RMB 5.12, blowing past analyst estimates of RMB 3.57 — a double beat on both top and bottom lines against Wall Street. Can this strong report card help JD shake off the profit shadow cast by last year's food delivery price war? What's your take?

JD Q1: Revenue and profit both beat expectations

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Nomura has raised its target price for JD.com, Inc. to USD41 while maintaining a Buy rating. The company's 1Q results exceeded expectations, with a 4.9% YoY revenue increase and a 16% YoY rise in operating profit. Despite anticipated revenue declines in Q2 due to various factors, Nomura has improved its profit forecasts for 2026 and 2027 by 15% and 5%, respectively, citing enhanced profitability in JD Retail.

- Nomura's report highlights that JD-SW (09618.HK) exceeded 1Q expectations with a 4.9% year-over-year increase in net revenue.  
- JD Retail's operating profit rose 16% year-over-year to RMB 15 billion, but management anticipates a decline in revenue for the second quarter due to various factors.  
- Despite this, Nomura improved its non-GAAP profit forecasts for 2026 and 2027 and maintained a Buy rating on JD.com, raising the target price from USD 40 to USD 41.

Nomura Raises JD.com, Inc. TP to USD41, Maintains Buy Rating