PDD Holdings (PDD) reports Q1 earnings, revenue above expectations; shares pop

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Go back to PDD Holdings (PDD) reports Q1 earnings, revenue above expectations; shares pop

PDD Holdings Announces First Quarter 2024 Unaudited Financial Results

May 22, 2024 6:30 AM EDT

DUBLIN and SHANGHAI, May 22, 2024 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (PDD Holdings or the Company) (NASDAQ: PDD), today announced its unaudited financial results for the first quarter ended March 31, 2024.

First Quarter 2024 Highlights

Total revenues in the quarter were RMB86,812.1 million (US$112,023.3 million), an increase of 131% from RMB37,637.1 million in the same quarter of 2023.Operating profit in the quarter was RMB25,973.7 million (US$3,597.3 million), an increase of 275% from RMB6,929.0 million in the... More