PDD Holdings Tops Q2 Revenue Estimates, Stock Soars in Premarket Trading

SHANGHAI/NASDAQ, Aug. 25, 2025 - E-commerce firm PDD Holdings Inc. (NASDAQ: PDD), the parent company of Pinduoduo and Temu, reported second-quarter revenue of RMB103.98 billion (US $14.52 billion), exceeding analyst expectations of RMB103.34 billion. Despite a 7% year-over-year increase in revenue, the company continued to face margin pressure as operating costs rose.

In premarket trading on Monday, PDD shares surged 11.31%, reflecting heightened investor optimism ahead of the earnings release. According to Investing.com, the stock jumped over 11% premarket after the company reported adjusted non-GAAP earnings of RMB22.07 per ADS, well above the consensus estimate of RMB14.80 per ADS.

PDD attributed its top-line beat to a rebound in domestic consumer demand and stronger growth in its international business, even amid global trade uncertainties. Online marketing services revenue climbed 13% to RMB55.70 billion, while transaction services held steady at RMB48.28 billion. Non-GAAP operating profit declined 21% year-over-year to RMB27.75 billion (US $3.87 billion), and non-GAAP net income fell 5% to RMB32.71 billion (US $4.57 billion).

Management will host an earnings conference call at 7:30 AM ET on August 25, 2025, to discuss results and outlook. Investors will be watching for commentary on cost control measures and the company’s strategy for sustaining long-term ecosystem growth amid intensifying competition.