京东2026年第一季度财报发布及业绩表现 - 老虎社区

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05-12

京东CEO：一季度日用百货收入同比增长14.9%，环比增速加快，超市、健康、家居、服饰领涨

京东CEO：一季度日用百货收入同比增长14.9%，环比增速加快，超市、健康、家居、服饰领涨

05-12

京东集团CEO：一季度季度活跃用户与年度活跃用户均同比增长超20%

京东集团CEO：一季度季度活跃用户与年度活跃用户均同比增长超20%

05-12

京东(JD.US)CEO：第一季度季度活跃用户和年度活跃用户同比均增长超过20%。

京东(JD.US)CEO：第一季度季度活跃用户和年度活跃用户同比均增长超过20%。

用户讨论

05-12

艰难时刻过去了吗？

京东一季度营收3157亿元，同比增长4.9%，调整后每ADS收益5.12元

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17:50","market":"hk","language":"zh","title":"京东一季度营收3157亿元，同比增长4.9%，调整后每ADS收益5.12元","url":"https://stock-news.laohu8.com/highlight/detail?id=1162080965","media":"老虎资讯综合","summary":"Q1净利润为人民币51亿元。","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/JD\">京东</a> ：2026年第一季度营收3157亿元人民币，上年同期3010.8亿元，同比增长4.9%。</p><p>第一季度归属于本公司普通股股东的净利润为51亿元，去年同期为109亿元。调整后归属于普通股股东的净利润为74亿元，去年为128亿元。</p><p>第一季度调整后EBITDA为80.2亿元，同比下降41%，但远超市场预估的44.6亿元。</p><p>第一季度每股美国存托股摊薄收益为3.54元，去年同期为7.19元。调整后每ADS收益5.12元，去年同期为8.41元。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5275d87ca7e057c7859380555adce94c\" tg-width=\"1024\" tg-height=\"571\"/></p><p>具体来看，增长结构持续优化。<strong>服务收入同比增长20.6%，增速明显领先于整体营收。</strong>核心零售业务方面，京东零售经营利润达150亿元（约22亿美元），同比增长约17%，经营利润率从上年同期的4.9%提升至5.6%。京东首席执行官许冉表示，年度活跃用户数创历史新高，用户购物频次亦有明显提升。</p><h2 id=\"3-c\">服务高增速成亮点，3C品类承压</h2><p style=\"text-align: justify;\">从收入构成来看，商品收入同比仅微增1.0%，内部分化明显：电子产品及家用电器商品收入同比下滑8.4%至人民币1322亿元，受行业需求结构调整影响较大；而日用百货商品收入同比大增14.9%至人民币1,126亿元，成为拉动商品端增长的主力。这一趋势印证了京东近年力推品类拓展、降低对3C品类依赖的战略成效。</p><p style=\"text-align: justify;\">服务收入方面，平台及广告服务收入同比增长18.8%，物流及其他服务收入同比增长21.7%，合计服务收入达人民币709亿元，在总收入中的占比进一步提升至22.4%，反映出京东作为&#34;以供应链为基础的技术与服务企业&#34;的商业模式转型正逐步兑现。</p><h2 id=\"8741ba10\">物流高速扩张，新业务巨亏引关注</h2><p style=\"text-align: justify;\"><strong>京东零售</strong>本季度收入为人民币2686亿元，同比增长1.8%，受益于日用百货品类及高利润率平台业务的双轮驱动。</p><p style=\"text-align: justify;\"><strong>京东物流</strong>本季度表现出色，收入同比大增29.0%至人民幣606亿元，经营利润率从0.3%跃升至1.7%，盈利能力显著改善。这一增长部分源于2025年10月收购本地即时配送业务后，2026年起将即时配送服务转向外部商家，带动了外部收入的快速增长。</p><p style=\"text-align: justify;\">新业务是本季度最大的利润拖累项。该分部收入同比增长9.1%至人民币63亿元，但经营亏损从去年同期的13亿元急剧扩大至103亿元，经营亏损率高达164.9%。这主要由京东外卖的前期投入驱动。公司表示，<strong>京东外卖&#34;单均损益持续改善&#34;，总投入规模环比已&#34;明显收窄&#34;，并在用户增长、购频提升、跨品类购买等方面持续释放与核心零售业务的协同效应。</strong></p><h2 id=\"53500442\">三大费用同步大幅攀升</h2><p style=\"text-align: justify;\">本季度各项费用增速均显著高于收入增速，对利润形成侵蚀：</p><ul style=\"\"><li><p>履约费用同比增长18.5%至234亿元，占收入比例从6.6%升至7.4%，主因持续扩大履约能力并加大人力投入；</p></li><li><p>营销费用同比暴增45.8%至154亿元，占收入比例从3.5%骤升至4.9%，主要用于新业务（即外卖等）的推广活动；</p></li><li><p>研发费用同比增长48.6%至69亿元，占收入比例从1.5%升至2.2%，体现公司在AI、具身智能等技术方向的持续加码。</p></li></ul><p style=\"text-align: justify;\">此外，一般及行政费用同比增长48.7%至36亿元，其中包含国家市监局约6亿元罚款（与第三方商家裱花蛋糕相关合规问题有关）。</p><h2 id=\"fc80e52c\">战略布局：欧洲扩张与具身智能两条新战线</h2><p style=\"text-align: justify;\">在国际化方面，3月16日，京东正式在欧洲推出零售品牌Joybuy，覆盖英国、德国、法国等六国市场，并以自有快递品牌JoyExpress复制京东&#34;211&#34;时效服务，目前已覆盖欧洲30余个主要城市、超4000万人口，体现出京东在海外供应链与物流布局上的雄心。</p><p style=\"text-align: justify;\">技术层面，京东物流发布升级版具身智能设备&#34;异狼&#34;机械臂，专为包裹抓取和码笼设计，依托&#34;物流超脑大模型&#34;提升分拣效率，&#34;狼族&#34;系列机器人已在全球规模化应用，是京东在AI落地物流场景方面的重要标志性进展。</p><p style=\"text-align: justify;\">此外，董事会批准授予创始人刘强东在京东健康、京东物流、京东工业及京东产发四家子公司各约2%股权的限制性股份单位，归属期四年，旨在进一步强化创始人对多元化生态长期价值的引领。</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>京东一季度营收3157亿元，同比增长4.9%，调整后每ADS收益5.12元</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ 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hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n京东一季度营收3157亿元，同比增长4.9%，调整后每ADS收益5.12元\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/102\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">老虎资讯综合 </p>\n<p class=\"h-time\">2026-05-12 17:50</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p><a href=\"https://laohu8.com/S/JD\">京东</a> ：2026年第一季度营收3157亿元人民币，上年同期3010.8亿元，同比增长4.9%。</p><p>第一季度归属于本公司普通股股东的净利润为51亿元，去年同期为109亿元。调整后归属于普通股股东的净利润为74亿元，去年为128亿元。</p><p>第一季度调整后EBITDA为80.2亿元，同比下降41%，但远超市场预估的44.6亿元。</p><p>第一季度每股美国存托股摊薄收益为3.54元，去年同期为7.19元。调整后每ADS收益5.12元，去年同期为8.41元。</p><p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/5275d87ca7e057c7859380555adce94c\" tg-width=\"1024\" tg-height=\"571\"/></p><p>具体来看，增长结构持续优化。<strong>服务收入同比增长20.6%，增速明显领先于整体营收。</strong>核心零售业务方面，京东零售经营利润达150亿元（约22亿美元），同比增长约17%，经营利润率从上年同期的4.9%提升至5.6%。京东首席执行官许冉表示，年度活跃用户数创历史新高，用户购物频次亦有明显提升。</p><h2 id=\"3-c\">服务高增速成亮点，3C品类承压</h2><p style=\"text-align: justify;\">从收入构成来看，商品收入同比仅微增1.0%，内部分化明显：电子产品及家用电器商品收入同比下滑8.4%至人民币1322亿元，受行业需求结构调整影响较大；而日用百货商品收入同比大增14.9%至人民币1,126亿元，成为拉动商品端增长的主力。这一趋势印证了京东近年力推品类拓展、降低对3C品类依赖的战略成效。</p><p style=\"text-align: justify;\">服务收入方面，平台及广告服务收入同比增长18.8%，物流及其他服务收入同比增长21.7%，合计服务收入达人民币709亿元，在总收入中的占比进一步提升至22.4%，反映出京东作为&#34;以供应链为基础的技术与服务企业&#34;的商业模式转型正逐步兑现。</p><h2 id=\"8741ba10\">物流高速扩张，新业务巨亏引关注</h2><p style=\"text-align: justify;\"><strong>京东零售</strong>本季度收入为人民币2686亿元，同比增长1.8%，受益于日用百货品类及高利润率平台业务的双轮驱动。</p><p style=\"text-align: justify;\"><strong>京东物流</strong>本季度表现出色，收入同比大增29.0%至人民幣606亿元，经营利润率从0.3%跃升至1.7%，盈利能力显著改善。这一增长部分源于2025年10月收购本地即时配送业务后，2026年起将即时配送服务转向外部商家，带动了外部收入的快速增长。</p><p style=\"text-align: justify;\">新业务是本季度最大的利润拖累项。该分部收入同比增长9.1%至人民币63亿元，但经营亏损从去年同期的13亿元急剧扩大至103亿元，经营亏损率高达164.9%。这主要由京东外卖的前期投入驱动。公司表示，<strong>京东外卖&#34;单均损益持续改善&#34;，总投入规模环比已&#34;明显收窄&#34;，并在用户增长、购频提升、跨品类购买等方面持续释放与核心零售业务的协同效应。</strong></p><h2 id=\"53500442\">三大费用同步大幅攀升</h2><p style=\"text-align: justify;\">本季度各项费用增速均显著高于收入增速，对利润形成侵蚀：</p><ul style=\"\"><li><p>履约费用同比增长18.5%至234亿元，占收入比例从6.6%升至7.4%，主因持续扩大履约能力并加大人力投入；</p></li><li><p>营销费用同比暴增45.8%至154亿元，占收入比例从3.5%骤升至4.9%，主要用于新业务（即外卖等）的推广活动；</p></li><li><p>研发费用同比增长48.6%至69亿元，占收入比例从1.5%升至2.2%，体现公司在AI、具身智能等技术方向的持续加码。</p></li></ul><p style=\"text-align: justify;\">此外，一般及行政费用同比增长48.7%至36亿元，其中包含国家市监局约6亿元罚款（与第三方商家裱花蛋糕相关合规问题有关）。</p><h2 id=\"fc80e52c\">战略布局：欧洲扩张与具身智能两条新战线</h2><p style=\"text-align: justify;\">在国际化方面，3月16日，京东正式在欧洲推出零售品牌Joybuy，覆盖英国、德国、法国等六国市场，并以自有快递品牌JoyExpress复制京东&#34;211&#34;时效服务，目前已覆盖欧洲30余个主要城市、超4000万人口，体现出京东在海外供应链与物流布局上的雄心。</p><p style=\"text-align: justify;\">技术层面，京东物流发布升级版具身智能设备&#34;异狼&#34;机械臂，专为包裹抓取和码笼设计，依托&#34;物流超脑大模型&#34;提升分拣效率，&#34;狼族&#34;系列机器人已在全球规模化应用，是京东在AI落地物流场景方面的重要标志性进展。</p><p style=\"text-align: justify;\">此外，董事会批准授予创始人刘强东在京东健康、京东物流、京东工业及京东产发四家子公司各约2%股权的限制性股份单位，归属期四年，旨在进一步强化创始人对多元化生态长期价值的引领。</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/cf5337c9c7bc23ec872d30a10fe10327","relate_stocks":{"JD":"京东","09618":"京东集团-SW","KJD":"2倍做多JD ETF-KraneShares"},"source_url":"","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162080965","content_text":"京东 ：2026年第一季度营收3157亿元人民币，上年同期3010.8亿元，同比增长4.9%。第一季度归属于本公司普通股股东的净利润为51亿元，去年同期为109亿元。调整后归属于普通股股东的净利润为74亿元，去年为128亿元。第一季度调整后EBITDA为80.2亿元，同比下降41%，但远超市场预估的44.6亿元。第一季度每股美国存托股摊薄收益为3.54元，去年同期为7.19元。调整后每ADS收益5.12元，去年同期为8.41元。具体来看，增长结构持续优化。服务收入同比增长20.6%，增速明显领先于整体营收。核心零售业务方面，京东零售经营利润达150亿元（约22亿美元），同比增长约17%，经营利润率从上年同期的4.9%提升至5.6%。京东首席执行官许冉表示，年度活跃用户数创历史新高，用户购物频次亦有明显提升。服务高增速成亮点，3C品类承压从收入构成来看，商品收入同比仅微增1.0%，内部分化明显：电子产品及家用电器商品收入同比下滑8.4%至人民币1322亿元，受行业需求结构调整影响较大；而日用百货商品收入同比大增14.9%至人民币1,126亿元，成为拉动商品端增长的主力。这一趋势印证了京东近年力推品类拓展、降低对3C品类依赖的战略成效。服务收入方面，平台及广告服务收入同比增长18.8%，物流及其他服务收入同比增长21.7%，合计服务收入达人民币709亿元，在总收入中的占比进一步提升至22.4%，反映出京东作为\"以供应链为基础的技术与服务企业\"的商业模式转型正逐步兑现。物流高速扩张，新业务巨亏引关注京东零售本季度收入为人民币2686亿元，同比增长1.8%，受益于日用百货品类及高利润率平台业务的双轮驱动。京东物流本季度表现出色，收入同比大增29.0%至人民幣606亿元，经营利润率从0.3%跃升至1.7%，盈利能力显著改善。这一增长部分源于2025年10月收购本地即时配送业务后，2026年起将即时配送服务转向外部商家，带动了外部收入的快速增长。新业务是本季度最大的利润拖累项。该分部收入同比增长9.1%至人民币63亿元，但经营亏损从去年同期的13亿元急剧扩大至103亿元，经营亏损率高达164.9%。这主要由京东外卖的前期投入驱动。公司表示，京东外卖\"单均损益持续改善\"，总投入规模环比已\"明显收窄\"，并在用户增长、购频提升、跨品类购买等方面持续释放与核心零售业务的协同效应。三大费用同步大幅攀升本季度各项费用增速均显著高于收入增速，对利润形成侵蚀：履约费用同比增长18.5%至234亿元，占收入比例从6.6%升至7.4%，主因持续扩大履约能力并加大人力投入；营销费用同比暴增45.8%至154亿元，占收入比例从3.5%骤升至4.9%，主要用于新业务（即外卖等）的推广活动；研发费用同比增长48.6%至69亿元，占收入比例从1.5%升至2.2%，体现公司在AI、具身智能等技术方向的持续加码。此外，一般及行政费用同比增长48.7%至36亿元，其中包含国家市监局约6亿元罚款（与第三方商家裱花蛋糕相关合规问题有关）。战略布局：欧洲扩张与具身智能两条新战线在国际化方面，3月16日，京东正式在欧洲推出零售品牌Joybuy，覆盖英国、德国、法国等六国市场，并以自有快递品牌JoyExpress复制京东\"211\"时效服务，目前已覆盖欧洲30余个主要城市、超4000万人口，体现出京东在海外供应链与物流布局上的雄心。技术层面，京东物流发布升级版具身智能设备\"异狼\"机械臂，专为包裹抓取和码笼设计，依托\"物流超脑大模型\"提升分拣效率，\"狼族\"系列机器人已在全球规模化应用，是京东在AI落地物流场景方面的重要标志性进展。此外，董事会批准授予创始人刘强东在京东健康、京东物流、京东工业及京东产发四家子公司各约2%股权的限制性股份单位，归属期四年，旨在进一步强化创始人对多元化生态长期价值的引领。","news_type":1,"symbols_score_info":{"KJD":0.6,"JD":2,"09618":2}},"isVote":1,"tweetType":1,"viewCount":160,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}]}