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Margins to Zero: JD.com 2Q'25 Consensus Metric Recap

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Consensus Media
Aug 14, 2025
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Big misses on the adjusted margin levels but all of the headlines pointing to revenue and earnings per share upside. JD has not run like many Chinese equities have, so the outcome today is a bit more murky, but you should probably ignore the headline beats and look under the surface, as outlined below, before trading the name today:

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