Summary by Moomoo AI
PDD Holdings Inc. (PDD), a multinational commerce group, reported its unaudited financial results for the second quarter ended June 30, 2024. The company saw a significant increase in total revenues, which reached RMB97,059.5 million (US$13,355.8 million), marking an 86% rise from the same quarter in 2023. This growth was primarily attributed to increases in online marketing services and transaction services. Operating profit for the quarter was RMB32,564.5 million (US$4,481.0 million), a 156% increase from the previous year, while net income attributable to ordinary shareholders was RMB32,009.4 million (US$4,404.6 million), up by 144%. Non-GAAP operating profit and net income also saw substantial increases. The company's cash and cash equivalents, along with short-term investments, totaled RMB284.9 billion (US$39.2 billion) as of June 30, 2024. Despite the strong financial performance, PDD Holdings...Show More
