PDD Holdings Incorporation

Latest Results (17.12.2024):

Revenue Growth

PDD Holdings Incorporation reported total revenues of RMB99,354.4 million (US$14,157.9 million) for the third quarter of 2024, marking a 44% increase from RMB68,840.4 million in the same quarter of 2023. This growth was primarily driven by increased revenues from online marketing services and transaction services.

Operating Profit

The operating profit for PDD Holdings in the third quarter of 2024 was RMB24,292.5 million (US$3,461.6 million), representing a 46% increase from RMB16,656.0 million in the third quarter of 2023. The non-GAAP operating profit also saw a significant rise, reaching RMB26,770.5 million (US$3,814.8 million), up 48% from the previous year.

Net Income

Net income attributable to ordinary shareholders for PDD Holdings in the third quarter of 2024 was RMB24,980.7 million (US$3,559.7 million), a 61% increase from RMB15,537.1 million in the same quarter of 2023. The non-GAAP net income also increased by 61%, reaching RMB27,458.7 million (US$3,912.8 million).

Expenses and Costs

Total costs of revenues for PDD Holdings in the third quarter of 2024 were RMB39,709.2 million (US$5,658.5 million), a 48% increase from RMB26,830.2 million in the same quarter of 2023. Operating expenses rose to RMB35,352.7 million (US$5,037.7 million), up 39% from the previous year, primarily due to increased sales and marketing expenses.

Cash and Investments

As of September 30, 2024, PDD Holdings reported cash, cash equivalents, and short-term investments totaling RMB308.5 billion (US$44.0 billion), compared to RMB217.2 billion as of December 31, 2023. This increase reflects the company's strong cash generation and investment activities during the period.