PDD Q3 2025 Earnings — Income Statement Breakdown
For its Q3 2025 period (ending 2025-09-30), PDD reported revenue of $108.3B, gross profit of $108.2B (99.9% gross margin), operating income of $25.0B, and net income of $58.7B (54.2% net margin). The flow of revenue into costs and profit is visualized below.
What changed
PDD was profitable; no comparable cached period is available.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | Not available | Not available | Not available |
Consensus estimate data is not available for this report.
PDD Q3 2025 Income Statement
| Line item | Amount (RMB) | % of revenue |
|---|---|---|
| Revenue | $108.3B | 100% |
| Cost of Revenue | −$82M | 0.1% |
| Gross Profit | $108.2B | 99.9% |
| Research & Development | — | 0.0% |
| Selling, General & Administrative | — | 0.0% |
| Other Operating Expenses | −$83.2B | 76.8% |
| Operating Income | $25.0B | 23.1% |
| Other Income, net | $37.6B | 34.7% |
| Income Tax Expense | −$4.0B | 3.7% |
| Net Income | $58.7B | 54.2% |
Source: original SEC filing (filed 2025-11-18). Accession 0001104659-25-113490. Data normalized by EarningsFyi.