PDD Holdings Inc. reported unaudited financial results for Q3 2025, with total revenues at RMB108,276.5 million (US$115,209.5 million), a 9% increase from the same quarter in 2024. Operating profit was RMB25,025.9 million (US$3,515.4 million), and net income attributable to ordinary shareholders was RMB29,328.2 million (US$4,119.7 million), up 17% from Q3 2024.

Company executives highlighted the tenth anniversary and commitment to social responsibility, emphasizing a long-term focus in a competitive environment. Revenue growth moderated in Q3 due to competitive landscape changes and uncertainties, leading to fluctuating financial results as the company invests in merchant support initiatives and ecosystem developments.

Costs of revenues were RMB46,840.2 million (US$6,579.6 million), up 18% from Q3 2024, driven by increased fulfillment fees and other expenses. Operating expenses totaled RMB36,410.4 million (US$5,114.5 million), with sales and marketing expenses at RMB30,322.9 million (US$4,259.4 million) and research and development expenses up 41% year over year.

Net cash generated from operating activities in Q3 was RMB45,660.5 million (US$6,413.9 million), showing significant growth from Q3 2024. Cash, cash equivalents, and short-term investments stood at RMB423.8 billion (US$59.5 billion) as of September 30, 2025, compared to RMB331.6 billion at the end of 2024.

PDD Holdings aims to bring more businesses and individuals into the digital economy to enhance productivity and foster new opportunities. The company’s non-GAAP financial measures exclude share-based compensation expenses and certain investment fair value changes, providing a clearer view of operating performance and future prospects. Forward-looking statements highlight growth strategies, operational plans, and potential risks affecting the company’s results.

Read more at GlobeNewswire: PDD Holdings Announces Third Quarter 2025 Unaudited