PDD Holdings Inc.PDDEarnings & Financial Report
Nasdaq · Industrials · Services-Business Services, NEC
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. Quarterly Revenue & Net Profit History
PDD Holdings Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q3 2025 | $15.2B | — | $4.1B | 27.1% |
| Q2 2025 | $14.5B | — | $4.3B | 29.6% |
| Q3 2024 | $14.2B | — | $3.6B | 25.1% |
| Q1 2024 | $12.0B | — | $3.9B | 32.3% |
| Q3 2023 | $9.4B | — | $2.1B | 22.6% |
| Q2 2023 | $7.2B | — | $1.8B | 25.1% |
| Q4 2022 | $5.8B | — | $1.4B | 23.7% |
| Q3 2022 | $5.0B | — | $1.5B | 29.8% |
Income Statement
| Q3 2022 | Q4 2022 | Q2 2023 | Q3 2023 | Q1 2024 | Q3 2024 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.99B | $5.77B | $7.21B | $9.44B | $12.02B | $14.16B | $14.52B | $15.21B |
| YoY Growth | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Balance Sheet
| Q3 2022 | Q4 2022 | Q2 2023 | Q3 2023 | Q1 2024 | Q3 2024 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $29.40B | $34.38B | $37.83B | $43.07B | $52.33B | $66.52B | $79.17B | $86.21B |
| Liabilities | $14.34B | $17.30B | $17.78B | $20.86B | $22.04B | $26.83B | $28.66B | $31.23B |
| Equity | $15.06B | $17.08B | $20.04B | $22.21B | $30.29B | $39.69B | $50.51B | $54.98B |
Cash Flow
| Q3 2022 | Q4 2022 | Q2 2023 | Q3 2023 | Q1 2024 | Q3 2024 | Q2 2025 | Q3 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $1.64B | $7.03B | $3.23B | $4.46B | $2.92B | $3.92B | $3.02B | $6.41B |