PDD Holdings misses estimates, stock tumbles on revenue growth concerns

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Go back to PDD Holdings misses estimates, stock tumbles on revenue growth concerns

PDD Holdings Announces Second Quarter 2024 Unaudited Financial Results

August 26, 2024 6:30 AM EDT

DUBLIN and SHANGHAI, Aug. 26, 2024 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (PDD Holdings or the Company) (NASDAQ: PDD), today announced its unaudited financial results for the second quarter ended June 30, 2024.

Second Quarter 2024 Highlights

Total revenues in the quarter were RMB97,059.5 million (US$113,355.8 million), an increase of 86% from RMB52,280.7 million in the same quarter of 2023.
Operating profit in the quarter was RMB32,564.5 million (US$4,481.0 million), an increase of 156% from RMB12,718.8 million... More