Pinduoduo Stock Price, News & Analysis

PDD Holdings announced its unaudited financial results for Q2 2024, ending June 30, 2024. Total revenues were RMB97.1 billion (US$13.4 billion), up 86% from Q2 2023, driven by rises in online marketing and transaction services revenues. Operating profit increased by 156% to RMB32.6 billion (US$4.5 billion), with non-GAAP operating profit at RMB35.0 billion (US$4.8 billion), a 139% increase.

Net income attributable to shareholders was RMB32.0 billion (US$4.4 billion), a 144% increase year-over-year. Non-GAAP net income reached RMB34.4 billion (US$4.7 billion), up 125%. Basic earnings per American depositary share (ADS) were RMB23.14 (US$3.18), and diluted earnings per ADS were RMB21.61 (US$2.97).

Cash flows from operations were RMB43.8 billion (US$6.0 billion), a significant rise from RMB23.4 billion in Q2 2023. Company executives highlighted ongoing investments in high-quality development, trust, and safety despite potential short-term profitability declines due to increasing competition and economic challenges.

PDD Holdings (NASDAQ: PDD) has announced it will release its unaudited financial results for Q2 2024 on August 26, 2024, before U.S. markets open. The company will host an earnings conference call at 7:30 AM ET (12:30 PM IST and 7:30 PM HKT) on the same day. Investors and interested parties can access the live webcast of the call at the company's investor relations website. A replay of the webcast will be available on the same website after the call concludes.

PDD Holdings (NASDAQ: PDD) announced its unaudited financial results for Q1 2024, showing significant growth. Total revenues reached RMB86,812.1 million (US$12,023.3 million), a 131% increase from the same period in 2023. Operating profit rose 275% to RMB25,973.7 million (US$3,597.3 million), while non-GAAP operating profit increased by 237% to RMB28,552.2 million (US$3,954.4 million). Net income attributable to ordinary shareholders was RMB27,997.8 million (US$3,877.7 million), marking a 246% rise. Non-GAAP net income rose 202% to RMB30,601.8 million (US$4,238.3 million).

EPS for ADS was RMB20.33 (US$2.82) and diluted EPS was RMB18.96 (US$2.63), compared to RMB6.13 and RMB5.55 in Q1 2023, respectively. Net cash from operating activities was RMB21,067.2 million (US$2,917.8 million), up from RMB1,338.0 million in Q1 2023. Increases in revenues were driven by online marketing and transaction services, but costs also rose significantly, including sales and marketing, general and administrative, and R&D expenses.

PDD Holdings (NASDAQ: PDD) announced it will release its unaudited financial results for the first quarter of 2024 on May 22, 2024, before the U.S. markets open. The company's management will hold an earnings conference call at 7:30 AM ET on the same day. The call will be webcast live and available for replay on the company's investor relations website.