拼多多Q1利润下跌4成背后:大规模减免商家服务费,百亿费用补贴新质商家

中金在线
02 Jun

近日,拼多多发布了2025年最新一季财报。财报数据显示,在平台多项超额投入下,拼多多Q1总营收956.72亿元,仅增长10%;归属于普通股股东的净利润147亿元,同比大跌47%,两项数据均远低于市场预期。去年以来,拼多多相继推出“百亿减免”“新质商家扶持计划”“千亿扶持”等惠商举措,一方面减免技术服务费、推广服务费等,为中小商家的降佣减负;另一方面又通过流量、现金等超额投入,助力中小商家寻找确定性...

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