PDD (NasdaqGS:PDD) Q3 2025 Earnings Call November 18, 2025 07:30 AM ET Company ParticipantsChen Lei - Chairman and Co-CEOCheng Peng - Head of Investor RelationsJiazhen Zhao - Executive Director and Co-CEOXinyi Lin - Investor RelationsConference Call ParticipantsAlicia Yap - AnalystKenneth Fong - AnalystJoyce Chu - AnalystOperatorLadies and gentlemen, thank you for standing by and welcome to the PDD Holdings Third Quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. ...

PDD (NasdaqGS:PDD) Q3 2025 Earnings Call November 18, 2025 07:30 AM ET Company ParticipantsChen Lei - Chairman and Co-CEOCheng Peng - Head of Investor RelationsJiazhen Zhao - Executive Director and Co-CEOXinyi Lin - Investor RelationsConference Call ParticipantsAlicia Yap - AnalystKenneth Fong - AnalystJoyce Chu - AnalystOperatorLadies and gentlemen, thank you for standing by and welcome to the PDD Holdings Third Quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. ...

PDD (NasdaqGS:PDD) Q3 2025 Earnings Call November 18, 2025 07:30 AM ET Speaker4Ladies and gentlemen, thank you for standing by and welcome to the PDD Holdings Third Quarter 2025 earnings conference call. At this time, all participants are in listen-only mode. There will be a presentation followed by a question-and-answer session. At which time, if you wish to ask a question, you will need to press the star key followed by the number one on your telephone keypad. Please be advised that today's conference is ...

新华财经北京11月18日电（胡晨曦） 11月18日晚间，拼多多发布截至9月30日的2025年第三季度财报。 受"千亿扶持"等生态投入的影响，拼多多本季度营收为1083亿元，同比增速为9%；经营利润（非 GAAP）为270.794亿元，同比增速仅为1%；调整后归属于普通股股东的净利润314亿元，同比增长 14%，环比则出现下滑。 业绩发布后，拼多多股价在美股盘前一度涨近4%，但随后转跌。 营收增长显著放缓净利润实现双位数增长 财报数据显示，拼多多第三季度9%的营收增速标志着其增长势头出现显著放缓。公司总营收为1082.8 亿元人民币，去年同期为993.5亿元。 营收增长主要来自两大核心业务，但增速均不高。其中，在线营销服务及其他收入为533.5亿元，同比 增长8%。交易服务收入为549.3亿元，同比增长10%。财务副总裁刘俊评论道："营收增长持续放缓，反 映了竞争格局的持续演变和外部不确定性"。她同时预警，随着公司推出更多商户支持举措和生态系统 投资，季度财务业绩可能会持续波动。 "从成立的第一天起，我们的使命就是普惠最广大的普通人，为他们带去多实惠和好服务。"陈磊表示， 站在十周年的节点往前看，我们将沿着为用 ...

PDD Holdings Inc. Sponsored ADR (PDD) came out with quarterly earnings of $2.96 per share, beating the Zacks Consensus Estimate of $2.21 per share. This compares to earnings of $2.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +33.94%. A quarter ago, it was expected that this company would post earnings of $1.91 per share when it actually produced earnings of $3.08, delivering a surprise of +61.26%.Over the last four quart ...

Core Viewpoint - Pinduoduo's Q3 2025 financial results show a revenue growth recovery, with total revenue reaching 108.28 billion RMB, a 9% year-on-year increase, despite previous forecasts of slowing growth [3][4]. Revenue Summary - Total revenue for Q3 2025 was 108.28 billion RMB, up from 99.35 billion RMB in Q3 2024, marking a 9% increase [3][6]. - Revenue from online marketing services and other businesses was 53.35 billion RMB, an 8% increase year-on-year, while transaction service revenue was 54.93 billion RMB, up 10% [6][7]. - The growth rate for online marketing services decreased from 13% to 8%, while transaction service revenue saw a significant rebound from just 0.7% growth in the previous quarter [6][7]. Profitability Summary - Non-GAAP operating profit for Q3 2025 was 27.08 billion RMB, exceeding the forecast of 24.46 billion RMB [3]. - Net profit attributable to shareholders was 29.33 billion RMB, a 17% increase from the previous year [3][4]. - Adjusted earnings per ADS were 21.08 RMB, surpassing the expected 16.86 RMB [3]. Cost and Expense Summary - Total cost of revenue for the quarter was 46.84 billion RMB, an 18% increase year-on-year [6][7]. - Research and development expenses rose to 4.33 billion RMB, a 41% increase, driven by higher employee-related costs and infrastructure expenses [7]. - Sales and marketing expenses remained stable compared to the previous year, indicating a controlled approach to spending despite rising operational costs [7]. Cash Flow Summary - Net cash flow from operating activities was 45.66 billion RMB, significantly up from 27.52 billion RMB in the same quarter of 2024 [4]. Strategic Outlook - The company anticipates continued revenue growth volatility due to competitive dynamics and external uncertainties, as indicated by the CFO [7]. - Pinduoduo is gradually increasing investments in AI and talent recruitment, although it has been relatively low-profile compared to competitors like Alibaba and JD [7].

陈磊还表示，今年是拼多多创业的第十个年头，站在十周年的节点往前看，我们将继续专注于追求内生 价值和长期愿景，永不放弃做正确的事，继续为广大用户创造价值，在坚定的高质量发展中，迈 向"Costco+Disney"的下一个十年。 责任编辑：何俊熹 新浪科技讯 11月18日晚间消息，拼多多发布最新财报。在业绩电话会上，拼多多集团董事长、联席 CEO陈磊表示，与十年前相比，我们的规模更大了，因此也必须肩负起更大的社会责任，社会公众利益 和平台的生态建设将是未来发展首要考虑的问题。我们将继续专注为用户创造价值的长期使命，投入更 多类似"千亿扶持"等惠及供需两侧的战略项目，以更大的当担反哺产业、回馈社会。 ...

新浪科技讯 11月18日晚间消息，拼多多发布最新财报。在财报电话会上，拼多多集团董事长、联席 CEO陈磊表示，当下的国际环境日趋复杂，各个国家及地区的贸易政策、税务、数据、商品合规等平台 监管政策也在发生比较大的变化，这不可避免的给我们带来了更大的挑战和更多的不确定性。 "作为一家年轻的全球化的公司，我们正在努力的学习、跟上和适应这些变化。但是，这个过程中的不 确定性是显著存在的，它可能让公司面临不可预知和明确计算的风险，也会影响短期乃至长期的财务表 现。"陈磊表示。 责任编辑：何俊熹 ...

11月18日消息，拼多多（纳斯达克证券代码：PDD）发布了该公司截至2025年9月30日的第三季度未经审计财报。财报显示，拼多多第三 季度每股收益超出华尔街预期，但营收不及预期，致股价在盘前交易中一度下跌逾4%。 第三季度主要财务数据： ·总营收为人民币1082.8亿元（约合152.095亿美元），较去年同期的人民币993.5亿元增长9%，不及华尔街平均预期的人民币1087.3亿 元。其中，来自在线营销服务和其他的营收为人民币533.5亿元（约合74.9亿美元），较去年同期的人民币493.5亿元增长8%；来自交易 服务的营收为人民币549.3亿元（约合77.2亿美元），较去年同期的人民币500.0亿元增长10%。 | | | For the three months ended September 30, | | | For the nine months ended September 30, | | | --- | --- | --- | --- | --- | --- | --- | | | 2024 | 2025 | | 2024 | 2025 | | | | RMB | RMB | પાર્ટક | ...

作为起家于农产品的新电商，拼多多在农业科研领域也进行了长期投入，先后主办了"多多农研大 赛""全球农创客大赛""科技小院大赛"等多项农研赛事，积极探索数字新兴技术与传统农业的深度融 合。 推动产业实现价值跃迁 成立之初，拼多多通过"拼"的模式创造性地解决了产业带的存量问题，并带动各地产业迅速完成了规模 化。截至目前，很多产业带已经进入了转型的关键节点，拼多多"千亿扶持"在三季度也持续加大对产业 商家的扶持力度，推动产业带完成新质转型。 11月18日，拼多多发布了截至9月30日的2025年第三季度财报，本季度实现营收1083亿元，净利润环比 下滑，经营利润同比仅录得低个位数增长。今年以来，拼多多首次在电商行业启动"千亿级别"的惠商战 略。截至目前，"千亿扶持"已经持续投入两个季度，一定程度上影响了过去两个季度的业绩表现，但为 商家及产业的健康发展创造了长期价值。 今年三季度适逢拼多多创业十周年。拼多多集团执行董事、联席CEO赵佳臻表示，目前，电商行业的竞 争进一步加剧，拼多多将拿出更多的真金白银投入到生态建设中，未来将推出更多类似"千亿扶持"的惠 商举措，以更大的力度回馈生态和社会。 拼多多集团董事长、联席CE ...