Pinduoduo (PDD) Reports Strong Growth in Q4 and Full Year 2024 Earnings

Mar 20, 2025

Pinduoduo (PDD, Financial) has released its financial results for the fourth quarter and the full year of 2024, showcasing significant growth across key metrics. In the fourth quarter, the company's revenue reached 1106.1 billion yuan, marking a 24% increase compared to the previous year. This revenue was driven by 570.1 billion yuan from online marketing and other services, and 536 billion yuan from transaction services.

The adjusted net profit for the fourth quarter was 298.5 billion yuan, reflecting a 17% year-over-year growth. For the entire year of 2024, Pinduoduo reported a revenue of 3938.4 billion yuan, which represents a 59% increase from the prior year. The adjusted net profit for the year surged by 80% to 1223.4 billion yuan.

Additionally, Pinduoduo increased its investment in research and development, spending 127 billion yuan, a 16% rise from the previous year. This investment underscores the company's commitment to innovation and enhancing its platform capabilities.

Disclosures

I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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