Leading Chinese e-commerce firm JD.com announced in its unaudited financial results for the three months that ended December 31, 2022, that revenue growth slowed down.

For the fourth quarter of 2022, JD.com reported net revenues of RMB295.4 billion (US$42.8 billion), representing a 7.1% increase from the same period in 2021. This is a slowdown from the 23% growth reported by the company during the previous year’s fourth-quarter earnings. This figure also missed the fourth-quarter revenue forecasts of RMB296.2 billion, according to Refinitiv data.

Online direct sales revenue in the quarter grew 1% year on year, missing analysts' consensus forecast of 4%, according to a research report by Atlantic Equities after the results.