Temu parent PDD Holdings Q3 revenues increase by 44 percent

PDD Holdings in its unaudited financial results statement for the third quarter reported revenues of 99,354.4 million Chinese yuan (14,157.9 million dollars), an increase of 44 percent.

“Over the past quarter, our focus remained on driving the high-quality development of the platforms,” said Lei Chen, chairman and co-chief executive officer of PDD Holdings.

Operating profit in the quarter was 24,292.5 million Chinese yuan (3,461.6 million dollars), an increase of 46 percent versus the same quarter of 2023. The company said non-GAAP operating profit was 26,770.5 million Chinese yuan (3,814.8 million dollars), an increase of 48 percent.

“In the third quarter, we stepped up the investments in our platform ecosystem through merchant support policies and trust and safety updates,” added Jiazhen Zhao, executive director and co-chief executive officer of PDD Holdings.

Net income in the quarter was 24,980.7 million Chinese yuan (3,559.7 million dollars), an increase of 61 percent and non-GAAP net income was 27,458.7 million Chinese yuan (3,912.8 million dollars), an increase of 61 percent.

The company’s basic earnings per ADS increased to 18.02 Chinese yuan (2.57 dollars) and diluted earnings per ADS were 16.91 Chinese yuan (2.41 dollars), while non-GAAP diluted earnings per ADS rose to 18.59 Chinese yuan (2.65 dollars).