PDD Holdings Inc. (NASDAQ: PDD) Q2 2025 Earnings Call | 08/25/2025

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PDD Holdings Inc., the parent company of Pinduoduo and Temu, reported Q2 2025 results marked by resilient growth in the face of mounting competition and elevated investments. Total revenue for the quarter was RMB103.98 billion (US$14.52 billion), up 7% year-over-year and ahead of consensus expectations. Online marketing services grew 13% to RMB55.7 billion, supported by expanding merchant engagement, while transaction services revenue was RMB28.7 billion, holding steady from last year. Adjusted earnings per American Depositary Share (ADS) came in at RMB22.07 (US$3.08), topping analyst estimates and reflecting robust execution despite margin pressure. Operating profit declined 21% to RMB25.8 billion, while net income attributable to ordinary shareholders slipped 4% year-over-year to RMB30.8 billion, impacted by heightened investments in merchant support and international expansion. Key operational updates included aggressive spending on marketing and infrastructure, particularly for Temu, and significant ecosystem initiatives to support merchant growth. Operating expenses rose 5% to RMB33.6 billion as the company fought to sustain platform competitiveness. Management reaffirmed its commitment to long-term global growth, acknowledging short-term profit volatility as a necessary trade-off in China’s intensely competitive e-commerce sector. About Inside Ticker: Inside Ticker delivers clear, professional earnings summaries and market insights for investors and financial professionals. Visit us at https://www.insideticker.com/ #PDDHoldings #PDD #Q22025 #Earnings #FinancialResults #Revenue #NetIncome #ADS #Temu #Pinduoduo #Ecommerce #ChinaTech #OnlineMarketing #MerchantSupport #Growth #Profitability #Investment #StockMarket #EarningsCall #MarketUpdate #InternationalExpansion