PDD Holding's Third-Quarter Profit Likely Declined -- Earnings Preview

Dow Jones

Nov 17, 2025

By Tracy Qu

PDD Holdings is scheduled to report third-quarter results on Tuesday. Here's what you need to know:

NET PROFIT FORECAST: The Chinese e-commerce giant is expected to post net profit of 22.46 billion yuan, equivalent to $3.16 billion, according to the consensus estimate of nine analysts in a FactSet poll, down from 24.98 billion yuan a year earlier.

REVENUE FORECAST: Revenue is projected at 108.705 billion yuan, up from 99.35 billion yuan a year earlier, FactSet data shows.

U.S.-listed PDD shares rose 26% from July to September amid broad positive sentiment of Chinese tech companies.

WHAT TO WATCH:

--TEMU: PDD's overseas business, Temu, may post solid results thanks to a rebound in U.S. sales and continued momentum in Europe, Citi analysts said in a research note. Temu's global monthly active users on Apple devices rose 42% in September, they added.

--PROFIT: Citi estimates PDD's adjusted net profit likely fell 5% in the third quarter, though results could exceed expectations if Temu performs strongly. Margins will be a key focus, Morningstar analyst Chelsey Tam says in an email, noting they will serve as a key gauge of how aggressively PDD has been subsidizing domestic shoppers under China's nationwide stimulus push.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

November 17, 2025 04:08 ET (09:08 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2584645951"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2584645951\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2584645951?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-11-17 17:08","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2584645951","market":"sg","top_or_hot":-1,"title":"PDD Holding's Third-Quarter Profit Likely Declined -- Earnings Preview","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Tracy Qu \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  PDD Holdings is scheduled to report third-quarter results on Tuesday. Here's what you need to know: \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  NET PROFIT FORECAST: The Chinese e-commerce giant is expected to post net profit of 22.46 billion yuan, equivalent to $3.16 billion, according to the consensus estimate of nine analysts in a FactSet poll, down from 24.98 billion yuan a year earlier. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  REVENUE FORECAST:  Revenue is projected at 108.705 billion yuan, up from 99.35 billion yuan a year earlier, FactSet data shows. \n</p>\n<p>\n  U.S.-listed PDD shares rose 26% from July to September amid broad positive sentiment of Chinese tech companies. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  WHAT TO WATCH: \n</p>\n<p>\n  --TEMU: PDD's overseas business, Temu, may post solid results thanks to a rebound in U.S. sales and continued momentum in Europe, Citi analysts said in a research note. Temu's global monthly active users on Apple devices rose 42% in September, they added. \n</p>\n<p>\n  --PROFIT: Citi estimates PDD's adjusted net profit likely fell 5% in the third quarter, though results could exceed expectations if Temu performs strongly. Margins will be a key focus, Morningstar analyst Chelsey Tam says in an email, noting they will serve as a key gauge of how aggressively PDD has been subsidizing domestic shoppers under China's nationwide stimulus push. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Tracy Qu at tracy.qu@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 17, 2025 04:08 ET (09:08 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PDD Holding's Third-Quarter Profit Likely Declined -- Earnings Preview</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPDD Holding's Third-Quarter Profit Likely Declined -- Earnings Preview\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-11-17 17:08</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  By Tracy Qu \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  PDD Holdings is scheduled to report third-quarter results on Tuesday. Here's what you need to know: \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  NET PROFIT FORECAST: The Chinese e-commerce giant is expected to post net profit of 22.46 billion yuan, equivalent to $3.16 billion, according to the consensus estimate of nine analysts in a FactSet poll, down from 24.98 billion yuan a year earlier. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  REVENUE FORECAST:  Revenue is projected at 108.705 billion yuan, up from 99.35 billion yuan a year earlier, FactSet data shows. \n</p>\n<p>\n  U.S.-listed PDD shares rose 26% from July to September amid broad positive sentiment of Chinese tech companies. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  WHAT TO WATCH: \n</p>\n<p>\n  --TEMU: PDD's overseas business, Temu, may post solid results thanks to a rebound in U.S. sales and continued momentum in Europe, Citi analysts said in a research note. Temu's global monthly active users on Apple devices rose 42% in September, they added. \n</p>\n<p>\n  --PROFIT: Citi estimates PDD's adjusted net profit likely fell 5% in the third quarter, though results could exceed expectations if Temu performs strongly. Margins will be a key focus, Morningstar analyst Chelsey Tam says in an email, noting they will serve as a key gauge of how aggressively PDD has been subsidizing domestic shoppers under China's nationwide stimulus push. \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  Write to Tracy Qu at tracy.qu@wsj.com \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 17, 2025 04:08 ET (09:08 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PDD","symbol_name":"拼多多","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2584645951","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2584645951","pubTimestamp":1763370480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"PDD Holdings is scheduled to report third-quarter results on Tuesday. Here's what you need to know:. NET PROFIT FORECAST: The Chinese e-commerce giant is expected to post net profit of 22.46 billion yuan, equivalent to $3.16 billion, according to the consensus estimate of nine analysts in a FactSet poll, down from 24.98 billion yuan a year earlier.REVENUE FORECAST:  Revenue is projected at 108.705 billion yuan, up from 99.35 billion yuan a year earlier, FactSet data shows.U.S.-listed PDD shares rose 26% from July to September amid broad positive sentiment of Chinese tech companies.--TEMU: PDD's overseas business, Temu, may post solid results thanks to a rebound in U.S. sales and continued momentum in Europe, Citi analysts said in a research note. Temu's global monthly active users on Apple devices rose 42% in September, they added.--PROFIT: Citi estimates PDD's adjusted net profit likely fell 5% in the third quarter, though results could exceed expectations if Temu performs strongly. M","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PDD":"拼多多"},"translate_title":"拼多多控股第三季度利润可能下降——财报预览","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PDD":1.5},"content_text":"By Tracy Qu \n\n\n \n\n\n  PDD Holdings is scheduled to report third-quarter results on Tuesday. Here's what you need to know: \n\n\n \n\n\n  NET PROFIT FORECAST: The Chinese e-commerce giant is expected to post net profit of 22.46 billion yuan, equivalent to $3.16 billion, according to the consensus estimate of nine analysts in a FactSet poll, down from 24.98 billion yuan a year earlier. \n\n\n \n\n\n  REVENUE FORECAST:  Revenue is projected at 108.705 billion yuan, up from 99.35 billion yuan a year earlier, FactSet data shows. \n\n\n  U.S.-listed PDD shares rose 26% from July to September amid broad positive sentiment of Chinese tech companies. \n\n\n \n\n\n  WHAT TO WATCH: \n\n\n  --TEMU: PDD's overseas business, Temu, may post solid results thanks to a rebound in U.S. sales and continued momentum in Europe, Citi analysts said in a research note. Temu's global monthly active users on Apple devices rose 42% in September, they added. \n\n\n  --PROFIT: Citi estimates PDD's adjusted net profit likely fell 5% in the third quarter, though results could exceed expectations if Temu performs strongly. Margins will be a key focus, Morningstar analyst Chelsey Tam says in an email, noting they will serve as a key gauge of how aggressively PDD has been subsidizing domestic shoppers under China's nationwide stimulus push. \n\n\n \n\n\n  Write to Tracy Qu at tracy.qu@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 17, 2025 04:08 ET (09:08 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport,preview","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}