PDD Holdings (DE:9PDA)
FRANKFURT:9PDA
Earnings Data
Report Date
May 22, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.07Last Year’s EPS
1.43Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call presented a mix of constructive strategic progress and clear near-term execution and profit pressures. Positive elements include mid-to-high single-digit top-line growth (Q4 +12%, FY +10%), strong transaction-services growth (+19% Q4), a large cash balance (RMB 422.3B), and major strategic initiatives (RMB 100 billion support program and supply-chain transformation) that support long-term differentiation. Offsetting these are material increases in cost of revenues and operating expenses, softer operating cash flow, EPS declines, and heightened regulatory/geopolitical uncertainty for the global business. Management emphasizes a long-term investment horizon and expects short-term margin variability as it prioritizes supply-chain upgrades and ecosystem development.Company Guidance
Top-line Growth
Revenue of RMB 123.9 billion in Q4, up 12% year-over-year; full-year 2025 revenue RMB 431.8 billion, up 10% year-over-year.
Strong Transaction Services Momentum
Transaction services revenue in Q4 was RMB 63.9 billion, up 19% year-over-year, driving a meaningful portion of overall growth.
Strategic RMB 100 Billion Support Program and Supply-Chain Investments
Launched an industry-first RMB 100 billion merchant/farmer support program and expanded initiatives (Duo Duo Local Specialties, new quality supply, last-mile logistics to villages) to upgrade the supply chain and support premiumization and brand building.
Non-GAAP Operating Profit — Full-Year Improvement
Non-GAAP operating profit for full-year 2025 was RMB 102.6 billion versus RMB 18.3 billion in 2024 — an approximately 461% year-over-year increase (as reported).
Large Cash Position
As of December 31, 2025, the company held RMB 422.3 billion in cash, cash equivalents and short-term investments, providing substantial liquidity for ongoing investments.
Progress on Global Scale and Recognition
Global business reached meaningful scale across ~90–100 markets; the company participated in the UN World Food Forum and sponsored agricultural research, reflecting recognition for its agriculture and supply-chain initiatives.
Targeted Cost Support and Slight Improvement in S&M Efficiency
Non-GAAP sales & marketing expenses increased to RMB 34 billion in Q4 (+9% YoY) but declined as a percentage of revenue to 27% from 28% in Q4 2024, indicating some efficiency gains.
DE:9PDA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
DE:9PDA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 25, 2026 | €82.80 | €91.80 | +10.87% |
Nov 18, 2025 | €113.00 | €103.50 | -8.41% |
Aug 25, 2025 | €108.50 | €108.00 | -0.46% |
May 27, 2025 | €104.50 | €90.00 | -13.88% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does PDD Holdings (DE:9PDA) report earnings?
PDD Holdings (DE:9PDA) is schdueled to report earning on May 22, 2026, After Close (Confirmed).
What is PDD Holdings (DE:9PDA) earnings time?
PDD Holdings (DE:9PDA) earnings time is at May 22, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of PDD Holdings stock?
The P/E ratio of PDD Holdings is N/A.
What is DE:9PDA EPS forecast?
DE:9PDA EPS forecast for the fiscal quarter 2026 (Q1) is 2.07.
