PDD Holdings’ Q3 Revenue Growth Slowed Amid Competitive Shifts, Market Uncertainty

The company’s third-quarter total revenue was RMB 108.27 billion, up 9% from RMB 99.35 billion in the same quarter of 2024.

Temu-owner PDD Holdings’ (PDD) VP of Finance Jun Liu said that revenue growth in the third quarter continued to moderate, showcasing the ongoing evolution of the competitive landscape and external uncertainties.

“As we roll out greater merchant support initiatives and ecosystem investments, financial results may continue to fluctuate from quarter to quarter,” said Liu.

The company’s third-quarter total revenue was RMB 108.27 billion, up 9% from RMB 99.35 billion in the same quarter of 2024. PDD’s adjusted net income attributable to ordinary shareholders in the quarter was RMB 31.38 billion, an increase of 14% from RMB 27.46 billion in the same quarter of 2024.

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