The earnings call highlighted significant strategic investments in merchant support and logistics, contributing to robust revenue and net income growth. However, the company faced challenges from increased competition and rising operating expenses, which moderated revenue growth and impacted profitability.

Company Guidance

During the PDD Holdings Q3 2024 earnings call, the management provided guidance emphasizing their continued investment in high-quality development strategies, which include a CNY 10 billion fee reduction program and a high-quality merchant support program. These initiatives are designed to enhance the platform ecosystem and support over 10 million merchants, contributing to both cost savings and efficiency gains. Financially, the company reported revenues of RMB 99.4 billion and a net income of RMB 25 billion, noting a moderation in revenue growth and profitability due to intensified competition. Despite a slight decline in profitability, PDD remains committed to long-term investments, focusing on expanding their supply chain and enhancing compliance capabilities to foster sustainable growth. Additionally, the company is navigating evolving consumption trends, especially during the Double 11 shopping festival, and is adapting to challenges in the competitive e-commerce landscape both domestically and globally.

Revenue and Net Income Growth

PDD Holdings reported revenues of RMB 99.4 billion and a net income of RMB 25 billion for Q3 2024, showing a strong financial performance despite market challenges.

CNY 10 Billion Fee Reduction Program

The program led to significant cost savings and efficiency gains for over 10 million merchants, with substantial fee reductions and enhanced after-sales support.

High-Quality Merchant Support Program

The program empowered merchants with strong product and technology innovation capabilities, driving growth in agricultural regions and industrial belts.

Logistics and Ecosystem Enhancements

PDD eliminated transshipment fees for orders to Western China, promoting e-commerce services in remote regions and driving significant order volume growth.

Research and Development Investments

R&D expenses increased to RMB 2.4 billion, reflecting a focus on strengthening core technology capabilities, which are foundational for supply chain innovation.

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PDD Holdings (GB:0A2S) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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GB:0A2S Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 30, 2018	2018 (Q2)	- / -0.48	―	―	―	―
Nov 20, 2018	2018 (Q3)	- / -0.15	―	―	―	―
Mar 13, 2019	2018 (Q4)	- / -0.29	―	―	―	―
May 20, 2019	2019 (Q1)	- / -0.22	-0.005	-4000.00% (-0.22)	―	―
Aug 21, 2019	2019 (Q2)	- / -0.03	-0.475	93.68% (+0.45)	―	―
Nov 20, 2019	2019 (Q3)	- / -0.27	-0.151	-80.18% (-0.12)	―	―
Mar 11, 2020	2019 (Q4)	- / -0.21	-0.295	29.63% (+0.09)	―	―
May 22, 2020	2020 (Q1)	- / -0.48	-0.224	-115.85% (-0.26)	―	―
Aug 21, 2020	2020 (Q2)	- / -0.10	-0.03	-240.91% (-0.07)	―	―
Nov 12, 2020	2020 (Q3)	- / -0.09	-0.273	67.00% (+0.18)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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GB:0A2S Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 21, 2024	$134.00	$134.00	0.00%
May 22, 2024	$134.00	$134.00	0.00%
Mar 20, 2024	$134.00	$134.00	0.00%
Nov 28, 2023	$134.00	$134.00	0.00%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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