The earnings call highlighted several positive aspects such as revenue growth, agriculture sales expansion, and successful global business expansion. However, the company continues to face challenges such as revenue growth pressure, declining operating margins, regulatory uncertainties, and fluctuating financial performance due to significant investments and competition. The sentiment is balanced with both positive achievements and challenges.
Company Guidance
In the third quarter of 2025, PDD Holdings reported RMB 108.3 billion in revenue, marking a 9% year-over-year increase. The revenue growth was primarily driven by a 10% increase in transaction services and an 8% rise in online marketing services, though the latter faced pressure from intensified competition. Operating profit on a GAAP basis was RMB 25 billion, slightly up from RMB 24.3 billion the previous year, while non-GAAP operating profit stood at RMB 27.1 billion, reflecting a margin of 25%, down from 27% last year. The company continues to invest in ecosystem development, including a RMB 100 billion support program, which may cause future financial performance to fluctuate. Net income attributable to ordinary shareholders was RMB 29.3 billion, with basic earnings per ADS at RMB 20.96 and diluted earnings per ADS at RMB 19.7. The company remains focused on long-term value creation amid increasing competition and regulatory challenges in global markets.
Revenue Growth
Total revenues increased by 9% year-over-year to RMB 108.3 billion, driven by an increase in revenues from online marketing services and transaction services.
Agriculture Sales Growth
Agriculture sales grew by 47% year-over-year, with a notable increase in the number of agricultural merchants, especially those born in the 2000s, indicating growth in this sector.
Global Business Expansion
The company's global business now serves many markets and has received positive feedback, highlighting successful expansion efforts.
Significant Cash Flow
Net cash generated from operating activities was RMB 45.7 billion compared to RMB 27.5 billion in the same quarter last year.
PDD Holdings (PDD) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
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
PDD Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Nov 18, 2025
$129.04
$119.58
-7.33%
Aug 25, 2025
$127.11
$128.21
+0.87%
May 27, 2025
$119.24
$102.98
-13.64%
Mar 20, 2025
$125.92
$130.92
+3.97%
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 (PDD) report earnings?
PDD Holdings (PDD) is schdueled to report earning on Mar 23, 2026, After Close (Confirmed).
What is PDD Holdings (PDD) earnings time?
PDD Holdings (PDD) earnings time is at Mar 23, 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.