PDD Holdings (NASDAQ:PDD) reported fourth-quarter revenue that fell short of analyst expectations, despite solid earnings and profit growth.
For the quarter, total revenue rose 24% year-over-year to RMB110.61 billion ($15.15 billion), but fell short of the RMB115.15 billion consensus estimate. However, adjusted earnings per American depositary share (ADS) came in at RMB20.15 ($2.76), beating analyst projections of RMB19.84.
The company’s Q4 operating profit climbed 14% year-over-year to RMB25.59 billion ($3.51 billion), with non-GAAP operating profit also increasing 14% to RMB28 billion ($3.84 billion), reflecting disciplined cost management and strong profitability.
For the full fiscal year 2024, PDD delivered total revenues of RMB393.84 billion ($53.96 billion), marking a 59% increase from 2023. Net income attributable to shareholders surged 87% to RMB112.43 billion ($15.4 billion), underscoring the company’s strong financial execution and profitability gains.