Income Statement - PDD Holdings Inc. (PDD)
$(Billion, Million)| Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 431,845.71 | 393,836.10 | 247,639.21 | 130,557.59 | 93,949.94 | 59,491.87 | 30,141.89 | 13,119.99 | 1,744.08 | 504.86 |
| Cost of revenue | 188,801.75 | 153,900.37 | 91,723.58 | 31,462.30 | 31,718.09 | 19,278.64 | 6,338.78 | 2,905.25 | 722.83 | 577.87 |
| Gross profit | 243,043.96 | 239,935.72 | 155,915.63 | 99,095.29 | 62,231.85 | 40,213.22 | 23,803.11 | 10,214.74 | 1,021.25 | -73.01 |
| Total operating expenses | 149,941.83 | 131,512.86 | 97,216.87 | 68,693.37 | 55,335.08 | 49,593.55 | 32,341.32 | 21,014.48 | 1,616.97 | 213.20 |
| Operating income | 93,102.13 | 108,422.86 | 58,698.76 | 30,401.92 | 6,896.76 | -9,380.33 | -8,538.21 | -10,799.74 | -595.72 | -286.21 |
| Non-operating income (net) | 26,473.16 | 24,278.43 | 13,177.69 | 5,861.81 | 2,805.49 | 2,200.58 | 1,570.61 | 582.62 | 70.61 | -5.77 |
| Income before tax | 119,575.30 | 132,701.29 | 71,876.45 | 36,263.73 | 9,702.26 | -7,179.74 | -6,967.60 | -10,217.13 | -525.12 | -291.98 |
| Income tax expense | 21,732.76 | 20,266.78 | 11,849.90 | 4,725.67 | 1,933.59 | 66.92 | -28.68 | 582.62 | -59.24 | 3.73 |
| Net income | 97,842.54 | 112,434.51 | 60,026.54 | 31,538.06 | 7,768.67 | -7,179.74 | -6,967.60 | -10,217.13 | -525.12 | -291.98 |
Show Quarterly Income Statement
Income Statement - PDD Holdings Inc. (PDD)
$(Billion, Million)| Mar-26 | Dec-25 | Sep-25 | Jun-25 | Mar-25 | Dec-24 | Sep-24 | Jun-24 | Mar-24 | Dec-23 | Sep-23 | Jun-23 | Mar-23 | Dec-22 | Sep-22 | Jun-22 | Mar-22 | Dec-21 | Sep-21 | Jun-21 | Mar-21 | Dec-20 | Sep-20 | Jun-20 | Mar-20 | Dec-19 | Sep-19 | Jun-19 | Mar-19 | Dec-18 | Sep-18 | Jun-18 | Mar-18 | Dec-17 | Sep-17 | Jun-17 | Mar-17 | Dec-16 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total revenue | 105,586.52 | 122,201.95 | 108,276.51 | 103,984.83 | 95,672.18 | 110,610.11 | 99,354.40 | 97,059.53 | 86,812.06 | 86,812.06 | 68,840.37 | 52,280.75 | 37,637.05 | 39,820.03 | 35,504.30 | 31,439.57 | 23,793.69 | 27,230.86 | 21,505.76 | 23,046.22 | 22,167.10 | 26,547.71 | 14,209.78 | 12,193.32 | 6,541.06 | 10,792.73 | 7,513.95 | 7,290.01 | 4,545.20 | 5,653.92 | 3,372.42 | 2,709.05 | 1,384.60 | 1,179.40 | 423.04 | 104.62 | 37.02 | 72.72 |
| Cost of revenue | 46,609.39 | 54,394.30 | 46,840.16 | 45,858.93 | 40,947.10 | 47,798.38 | 39,709.21 | 33,698.10 | 32,694.69 | 32,694.69 | 26,830.23 | 18,689.79 | 11,125.29 | 8,926.71 | 7,414.13 | 7,961.87 | 7,159.60 | 6,515.51 | 6,558.65 | 7,897.89 | 10,746.05 | 11,526.12 | 3,260.16 | 2,662.12 | 1,830.25 | 2,037.44 | 1,833.32 | 1,594.71 | 873.31 | 1,424.04 | 774.68 | 387.83 | 318.70 | 374.02 | 186.77 | 107.61 | 54.43 | 83.18 |
| Gross profit | 58,977.13 | 67,807.65 | 61,436.35 | 58,125.90 | 54,725.08 | 62,811.73 | 59,645.19 | 63,361.43 | 54,117.37 | 54,117.37 | 42,010.14 | 33,590.96 | 26,511.77 | 30,893.32 | 28,090.17 | 23,477.70 | 16,634.09 | 20,715.35 | 14,947.11 | 15,148.33 | 11,421.05 | 15,021.59 | 10,949.63 | 9,531.20 | 4,710.81 | 8,755.29 | 5,680.63 | 5,695.30 | 3,671.89 | 4,229.89 | 2,597.73 | 2,321.22 | 1,065.90 | 805.38 | 236.27 | -2.99 | -17.41 | -73.01 |
| Total operating expenses | 37,960.02 | 40,470.56 | 36,410.43 | 32,333.00 | 38,639.51 | 37,219.52 | 35,352.73 | 30,796.90 | 28,143.72 | 28,143.72 | 25,354.12 | 20,872.21 | 19,582.75 | 21,779.59 | 17,653.56 | 14,780.54 | 14,479.69 | 13,808.39 | 12,807.84 | 13,150.86 | 15,568.01 | 17,069.36 | 12,245.37 | 11,170.78 | 9,108.05 | 10,890.59 | 8,472.60 | 7,185.71 | 5,792.41 | 6,870.80 | 3,867.21 | 8,957.44 | 1,319.04 | 828.08 | 470.64 | 119.75 | 198.50 | 791.07 |
| Operating income | 21,017.11 | 27,337.09 | 25,025.92 | 25,792.90 | 16,085.56 | 25,592.22 | 24,292.46 | 32,564.54 | 25,973.65 | 25,973.65 | 16,656.02 | 12,718.76 | 6,929.02 | 9,113.74 | 10,436.61 | 8,697.17 | 2,154.41 | 6,906.97 | 2,139.27 | 1,997.48 | -4,146.96 | -2,047.77 | -1,295.74 | -1,639.58 | -4,397.23 | -2,135.30 | -2,791.97 | -1,490.41 | -2,120.52 | -2,640.91 | -1,269.48 | -6,636.22 | -250.16 | -22.70 | -234.37 | -122.74 | -215.91 | -286.21 |
| Non-operating income (net) | -4,455.89 | 5,194.94 | 8,288.95 | 9,742.38 | 3,137.10 | 6,937.22 | 4,887.34 | 5,359.43 | 7,091.93 | 7,144.36 | 2,394.58 | 3,547.77 | 2,769.78 | 1,405.58 | 1,689.14 | 1,757.24 | 1,009.86 | 791.40 | 355.45 | 417.10 | 1,241.54 | 623.40 | 511.03 | 740.23 | 277.90 | 346.77 | 456.97 | 487.16 | 242.81 | 217.02 | 171.16 | 142.33 | 49.14 | 36.30 | 12.93 | 13.20 | 8.19 | -5.77 |
| Income before tax | 16,561.23 | 32,532.02 | 33,314.87 | 35,535.28 | 19,222.66 | 32,529.43 | 29,179.80 | 37,923.97 | 33,065.58 | 33,118.01 | 19,050.60 | 16,266.53 | 9,698.80 | 10,519.31 | 12,125.75 | 10,454.40 | 3,164.27 | 7,698.37 | 2,494.73 | 2,414.58 | -2,905.42 | -1,424.37 | -784.71 | -899.35 | -4,119.33 | -1,788.53 | -2,335.01 | -1,003.25 | -1,877.71 | -2,423.89 | -1,098.32 | -6,493.89 | -201.02 | 13.59 | -221.44 | -109.54 | -207.72 | -291.98 |
| Income tax expense | 4,090.11 | 8,329.74 | 3,986.69 | 4,781.83 | 4,480.83 | 5,082.80 | 4,201.62 | 5,914.61 | 5,067.75 | 5,067.75 | 3,513.48 | 3,158.44 | 1,597.78 | 1,065.61 | 1,537.18 | 1,558.06 | 564.81 | 1,078.82 | 854.77 | -249.26 | -781.53 | 35.64 | -355.23 | -675.62 | -309.57 | -8.22 | -400.25 | -402.57 | -252.10 | -194.81 | -164.82 | -136.60 | -48.03 | -48.89 | -20.65 | -13.74 | -7.37 | 0.00 |
| Net income | 12,471.12 | 24,202.28 | 29,328.18 | 30,753.46 | 14,741.83 | 27,446.64 | 24,980.69 | 32,009.36 | 27,997.83 | 27,997.83 | 15,537.12 | 13,108.09 | 8,101.03 | 9,453.70 | 10,588.57 | 8,896.34 | 2,599.45 | 6,619.55 | 1,639.96 | 2,414.58 | -2,905.42 | -1,376.36 | -784.71 | -899.35 | -4,119.33 | -1,751.64 | -2,335.01 | -1,003.25 | -1,877.71 | -2,423.89 | -1,098.32 | -6,493.89 | -198.66 | 13.59 | -221.44 | -109.54 | -207.72 | -291.98 |