PDD Holdings Inc. (PDD) Financial Statements

Income statement

Metric	TTM	2025	2024	2023	2022
Revenue
Total Revenue	450.8B	431.8B	393.8B	247.6B	130.6B
Cost of Revenue	196.9B	188.8B	153.9B	91.7B	31.5B
Gross Profit	253.9B	243.0B	239.9B	155.9B	99.1B
Operating Expenses
R&D Expense	18.3B	16.5B	12.7B	11.0B	10.4B
SG&A Expense	137.0B	133.4B	118.9B	86.3B	58.3B
General & Admin Expense	8.9B	8.2B	7.6B	4.1B	4.0B
Selling & Marketing Expense	128.1B	125.3B	111.3B	82.2B	54.3B
Other Expenses	—	—	—	—	—
Total Operating Expenses	155.3B	149.9B	131.5B	97.2B	68.7B
Cost and Expenses	352.2B	338.7B	285.4B	188.9B	100.2B
Operating Income (EBIT)	98.6B	93.1B	108.4B	58.7B	30.4B
Non-Operating
Interest Income	28.4B	25.6B	20.6B	10.2B	4.0B
Interest Expense	632.0M	—	—	44.0M	51.7M
Net Interest Income	27.8B	25.6B	20.6B	10.2B	3.9B
Other Non-Op Income/Expense	16.3B	26.5B	24.3B	13.2B	5.9B
Non-Operating Income (excl Interest)	(38.0B)	(26.3B)	(24.3B)	(13.2B)	(5.9B)
EBT (Pre-Tax Income)	114.9B	119.6B	132.7B	71.9B	36.3B
Income Tax Expense	22.6B	21.7B	20.3B	11.8B	4.7B
Bottom Line
Net Income	92.1B	97.8B	112.4B	60.0B	31.5B
Earnings from Cont. Ops	92.2B	97.8B	112.4B	60.0B	31.5B
Earnings from Discont. Ops	—	—	—	—	—
Bottom Line Net Income	92.1B	97.8B	112.4B	60.1B	31.6B
Per Share
Basic EPS	$66.60	$69.16	$81.24	$44.32	$24.96
Diluted EPS	$63.04	$65.24	$76.00	$41.12	$21.92
Revenue Per Share	$320.44	$308.96	$284.56	$182.89	$103.26
Shares
Basic Shares Outstanding	1.4B	1.4B	1.4B	1.4B	1.3B
Diluted Shares Outstanding	1.5B	1.5B	1.5B	1.5B	1.4B
Profitability Metrics
EBITDA	136.6B	122.4B	133.4B	72.7B	38.5B
D&A	—	3.0B	708.8M	786.2M	2.2B
EBIT	136.6B	119.4B	132.7B	71.9B	36.3B

As reported, in the filing currency · TTM sums the four latest quarters; MRQ is the latest quarter · Negatives in parentheses; a dash is a line the filing does not carry · Data as of Jun 1, 2026