From GlobeNewswire: 2024-11-21 06:30:00

PDD Holdings Inc. announced unaudited financial results for Q3 2024, with total revenues of RMB99,354.4 million, an increase of 44% from the same quarter in 2023. Operating profit was RMB24,292.5 million, up 46% from Q3 2023, and net income attributable to shareholders was RMB24,980.7 million, a 61% increase from Q3 2023.

Chairman Lei Chen highlighted the focus on high-quality platform development, while Executive Director Jiazhen Zhao emphasized increased investments in the platform ecosystem. VP of Finance Jun Liu mentioned moderated growth due to competition and external challenges but emphasized continued investment in a sustainable ecosystem.

Total revenues for Q3 2024 were RMB99,354.4 million, up 44% from Q3 2023, driven by growth in online marketing and transaction services. Operating profit increased to RMB24,292.5 million, a 46% rise from the previous year. Non-GAAP operating profit was RMB26,770.5 million, a 48% increase.

Net income attributable to ordinary shareholders in Q3 2024 was RMB24,980.7 million, a 61% increase from Q3 2023. Non-GAAP net income was RMB27,458.7 million, up 61% from the same quarter last year. Basic earnings per ADS were RMB18.02, diluted earnings per ADS were RMB16.91, and non-GAAP diluted earnings per ADS were RMB18.59.

Net cash generated from operating activities in Q3 2024 was RMB27,522.3 million, compared to RMB32,537.9 million in Q3 2023. Cash, cash equivalents, and short-term investments totaled RMB308.5 billion as of September 30, 2024, compared to RMB217.2 billion as of December 31, 2023. Other non-current assets were RMB74.0 billion as of September 30, 2024, compared to RMB48.0 billion as of December 31, 2023.



Read more at GlobeNewswire:: PDD Holdings Announces Third Quarter 2024 Unaudited