PDD(PDD) - 2024 Q3 - Quarterly Results

Revenue Growth - Total revenues in Q3 2024 were RMB99,354.4 million (US$14,157.9 million), a 44$ 14,157,889 thousand), a significant increase from RMB 68,840,371 thousand in the same period of 2023[20] - Revenues from online marketing services and others were RMB49,351.0 million (US$7,032.5 million), a 24$ 7,032,465 thousand) to revenues for the three months ended September 30, 2024, up from RMB 39,687,678 thousand in the same period of 2023[22] - Revenues from transaction services were RMB50,003.4 million (US$7,125.4 million), a 72$ 7,125,424 thousand), compared to RMB 29,152,693 thousand in the same period of 2023[22] Profitability - Operating profit in Q3 2024 was RMB24,292.5 million (US$3,461.6 million), a 46$ 3,461,647 thousand), up from RMB 16,656,021 thousand in the same period of 2023[20] - Operating profit for Q3 2024 increased to RMB 24,292,458 thousand, up 45.8% from RMB 16,656,021 thousand in 2023[26] - Non-GAAP operating profit for Q3 2024 reached RMB 26,770,463 thousand, a 47.7% increase from RMB 18,125,840 thousand in 2023[26] - Net income attributable to ordinary shareholders in Q3 2024 was RMB24,980.7 million (US$3,559.7 million), a 61$ 3,559,719 thousand), compared to RMB 15,537,122 thousand in the same period of 2023[20] - Net income attributable to ordinary shareholders for Q3 2024 rose to RMB 24,980,694 thousand, up 60.8% from RMB 15,537,122 thousand in 2023[26] - Non-GAAP net income attributable to ordinary shareholders for Q3 2024 was RMB 27,458,701 thousand, a 61.3% increase from RMB 17,027,084 thousand in 2023[26] Earnings Per Share - Diluted earnings per ordinary share for Q3 2024 increased to RMB 4.23, up 59.6% from RMB 2.65 in 2023[26] - Non-GAAP diluted earnings per ordinary share for Q3 2024 was RMB 4.65, a 60.3% increase from RMB 2.90 in 2023[26] - Non-GAAP diluted earnings per ADS for Q3 2024 reached RMB 18.59, up 60.1% from RMB 11.61 in 2023[26] Expenses - Sales and marketing expenses were RMB30,483.8 million (US$4,343.9 million), a 40$5,037.7 million), a 39% increase from RMB25,354.1 million in Q3 2023[6] - General and administrative expenses were RMB1,805.6 million (US$257.3 million), a 138$ 436,524 thousand), up from RMB 2,847,323 thousand in the same period of 2023[20] - Total share-based compensation expenses for the three months ended September 30, 2024, were RMB 2,478,005 thousand (US$353,113 thousand), compared to RMB 1,469,819 thousand in the same period of 2023[23] - Share-based compensation expenses for Q3 2024 were RMB 2,478,005 thousand, a 68.6$44.0 billion) as of September 30, 2024, compared to RMB217.2 billion as of December 31, 2023[9] - Other non-current assets were RMB74.0 billion (US$10.5 billion) as of September 30, 2024, compared to RMB48.0 billion as of December 31, 2023[9] - Cash, cash equivalents, and restricted cash at the end of the period for September 30, 2024, stood at RMB 125,688,495 thousand (US$ 17,910,467 thousand), up from RMB 111,353,259 thousand at the beginning of the period[24] - Net cash generated from operating activities for the three months ended September 30, 2024, was RMB 27,522,313 thousand (US$3,921,898 thousand), down from RMB 32,537,857 thousand in the same period of 2023[24] Shareholders' Equity - Total shareholders' equity increased to RMB 278,504,920 thousand (US$ 39,686,634 thousand) as of September 30, 2024, from RMB 187,241,607 thousand in the previous year[18] Non-GAAP Metrics - Non-GAAP operating profit for Q3 2024 reached RMB 26,770,463 thousand, a 47.7% increase from RMB 18,125,840 thousand in 2023[26] - Non-GAAP net income attributable to ordinary shareholders for Q3 2024 was RMB 27,458,701 thousand, a 61.3% increase from RMB 17,027,084 thousand in 2023[26] - Non-GAAP diluted earnings per ordinary share for Q3 2024 was RMB 4.65, a 60.3% increase from RMB 2.90 in 2023[26] - Non-GAAP diluted earnings per ADS for Q3 2024 reached RMB 18.59, up 60.1% from RMB 11.61 in 2023[26] - Non-GAAP diluted weighted-average number of ordinary shares outstanding for Q3 2024 was 5,909,793 thousand, up 0.8% from 5,865,102 thousand in 2023[26] Other Financial Metrics - Loss from fair value change of certain investments for Q3 2024 was RMB 2, a significant decrease from RMB 7,935 in 2023[26]