Summary by Moomoo AI
On November 21, 2024, PDD Holdings announced its unaudited financial results for Q3 2024, ending September 30. The company reported total revenues of RMB99,354.4 million (US$14,157.9 million), a 44% increase YoY. Operating profit rose 46% to RMB24,292.5 million (US$3,461.6 million), while net income attributable to ordinary shareholders increased 61% to RMB24,980.7 million (US$3,559.7 million).The revenue growth was driven by a 72% increase in transaction services and a 24% rise in online marketing services. Operating expenses increased by 39%, primarily due to higher sales and marketing expenses. Despite intensified competition, PDD Holdings remains committed to investing in its platform ecosystem to foster sustainable growth.The company held cash, cash equivalents, and short-term investments totaling RMB308.5 billion (US$44.0 billion) as of September 30, 2024. Management emphasized ongoing investments in merchant support and platform safety to enhance service offerings and maintain a healthy ecosystem.
