PDD Holdings Inc.PDDEarnings & Financial Report
Nasdaq
Pinduoduo is a Chinese online retailer, with a focus on the traditional agriculture industry. The business is the largest product of PDD Holdings, a company currently headquartered in Ireland that also owns the online marketplace Temu.
PDD Q3 2025 Key Financial Metrics
Revenue
$15.2B
Gross Profit
$8.6B
Operating Profit
$3.5B
Net Profit
$4.1B
Gross Margin
56.7%
Operating Margin
23.1%
Net Margin
27.1%
YoY Growth
N/A
Financial Flow
PDD Holdings Inc. Q3 2025 Financial Summary
PDD Holdings Inc. reported revenue of $15.2B for Q3 2025, with a net profit of $4.1B (27.1% margin). Cost of goods sold was $6.6B, operating expenses totaled $5.1B.
Key Financial Metrics
| Total Revenue | $15.2B |
|---|---|
| Net Profit | $4.1B |
| Gross Margin | 56.7% |
| Operating Margin | 23.1% |
| Report Period | Q3 2025 |
PDD Holdings Inc. Annual Revenue by Year
PDD Holdings Inc. annual revenue history includes year-by-year totals (for example, 2024 revenue was $54.7B).
| Year | Annual Revenue |
|---|---|
| 2024 | $54.7B |
Income Statement
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.52B | $12.02B | $13.36B | $14.16B | $15.15B | $13.18B | $14.52B | $15.21B |
| YoY Growth | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Balance Sheet
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $49.03B | $52.33B | $59.55B | $66.52B | $69.19B | $73.11B | $79.17B | $86.21B |
| Liabilities | $22.65B | $22.04B | $24.60B | $26.83B | $26.27B | $27.67B | $28.66B | $31.23B |
| Equity | $26.37B | $30.29B | $34.95B | $39.69B | $42.92B | $45.43B | $50.51B | $54.98B |
Cash Flow
| Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $5.20B | $2.92B | $6.03B | $3.92B | $4.05B | $2.14B | $3.02B | $6.41B |