PDD Financial Statements
NASDAQ: PDDConsumer DiscretionaryBusiness ServicesUSD
At close: Oct 9, 4:00 PM ET · Delayed 15 min
After hours: 81.35 0.00%
PDD revenue and earnings
In fiscal 2025, PDD generated $61.75 billion in revenue, up 14.5% from fiscal 2024, its 7th consecutive year of revenue growth. Net income was $13.99 billion (-9.2% year over year), for a net margin of 22.7% versus a median of 24.2% in the prior 5 years. Gross margin was 56.3% (down from 60.9%) and operating margin 21.6%.
Diluted earnings per share came in at $2.36, down from $2.60. Over the last 5 fiscal years, PDD's revenue has grown at a 46.6% compound annual rate.
Summary generated from market data by MetaCap's automated system. Methodology
PDD income statement (annual)
| Fiscal year (USD) | FY 20252025-12-31 | FY 20242024-12-31 | FY 20232023-12-31 | FY 20222022-12-31 | FY 20202021-12-31 | FY 20202020-12-31 | FY 20192019-12-31 | FY 20182018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 61.75B | 53.96B | 34.88B | 18.93B | 14.74B | 9.12B | 4.33B | 1.91B |
| Revenue growth (YoY) | +14.45% | +54.69% | +84.26% | +28.40% | +61.70% | +110.59% | +126.89% | — |
| Cost of Revenue | 27.00B | 21.08B | 12.92B | 4.56B | 4.98B | 2.95B | 910.51M | 422.55M |
| Gross Profit | 34.75B | 32.87B | 21.96B | 14.37B | 9.77B | 6.16B | 3.42B | 1.49B |
| Operating Expenses | 21.44B | 18.02B | 13.69B | 9.96B | 8.68B | 7.60B | 4.65B | 3.06B |
| Research & Development | 2.36B | 1.73B | 1.54B | 1.51B | 1.41B | 1.06B | 555.94M | 162.32M |
| Selling, General & Admin | 19.08B | 16.28B | 12.15B | 8.45B | 7.27B | 6.54B | 4.09B | 2.89B |
| Operating Income | 13.31B | 14.85B | 8.27B | 4.41B | 1.08B | -1.44B | -1.23B | -1.57B |
| Interest Expense | — | — | 6.20M | 7.49M | 193.17M | 116.07M | 20.95M | — |
| Other Income (Expense) | 389.95M | 427.42M | 415.86M | 322.07M | 102.98M | 29.69M | 11.89M | -1.80M |
| Pretax Income | 17.10B | 18.18B | 10.12B | 5.26B | 1.52B | -1.10B | -1.00B | -1.49B |
| Income Tax | 3.11B | 2.78B | 1.67B | 685.16M | 303.42M | 0 | — | — |
| Net Income | 13.99B | 15.40B | 8.45B | 4.57B | 1.22B | -1.10B | -1.00B | -1.49B |
| Net Income growth (YoY) | -9.17% | +82.19% | +84.90% | +275.09% | — | — | — | — |
| EPS (Basic) | 2.50 | 2.78 | 1.56 | 0.90 | 0.24 | -0.23 | -0.22 | -0.50 |
| EPS (Diluted) | 2.36 | 2.60 | 1.45 | 0.79 | 0.21 | -0.23 | -0.22 | -0.50 |
| Shares Outstanding (Basic) | 5.59B | 5.54B | 5.42B | 5.06M | 5.01B | 4.77B | 4.63B | 2.97B |
| Shares Outstanding (Diluted) | 5.93B | 5.92B | 5.84B | 5.76M | 5.71B | 4.77B | 4.63B | 2.97B |
| EBITDA | 13.40B | 14.95B | 8.38B | 4.73B | 1.32B | -1.34B | -1.13B | -1.50B |
| Gross Margin | 56.28% | 60.92% | 62.96% | 75.90% | 66.24% | 67.59% | 78.97% | 77.86% |
| Operating Margin | 21.56% | 27.53% | 23.70% | 23.29% | 7.34% | -15.77% | -28.33% | -82.32% |
| Net Margin | 22.66% | 28.55% | 24.24% | 24.16% | 8.27% | -12.07% | -23.12% | -77.87% |
This table shows 8 annual periods of PDD's income statement, from FY 2025 back to FY 2018, across 20 line items including revenue, cost of revenue, gross profit. Values in USD; B = billions, M = millions. Fiscal periods follow PDD's reporting calendar. What is a income statement?