PDD Holdings Inc. (PDD)

PDD Holdings Income Statement

Financials in millions CNY. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Revenue	341,593	247,639	130,558	93,950	59,492	30,142
Revenue Growth (YoY)	106.72%	89.68%	38.97%	57.92%	97.37%	129.74%
Cost of Revenue	128,301	91,724	31,462	31,718	19,279	6,339
Gross Profit	213,292	155,916	99,095	62,232	40,213	23,803
Selling, General & Admin	105,551	87,643	59,041	46,869	42,911	28,600
Research & Development	10,152	9,574	9,653	8,466	6,682	3,741
Operating Expenses	115,703	97,217	68,693	55,335	49,594	32,341
Operating Income	97,589	58,699	30,402	6,897	-9,380	-8,538
Interest Expense	-20.36	-43.99	-51.66	-1,231	-757.34	-145.86
Interest & Investment Income	16,391	10,238	3,997	3,062	2,455	1,542
Earnings From Equity Investments	-222.89	-4.71	-155.29	246.83	83.65	28.68
Currency Exchange Gain (Loss)	170.72	35.72	-149.71	71.75	225.2	63.18
Other Non Operating Income (Expenses)	2,993	2,953	2,221	656.26	193.7	82.79
EBT Excluding Unusual Items	116,901	71,876	36,264	9,702	-7,180	-6,968
Pretax Income	116,901	71,876	36,264	9,702	-7,180	-6,968
Income Tax Expense	18,076	11,850	4,726	1,934	-	-
Net Income	98,825	60,027	31,538	7,769	-7,180	-6,968
Net Income to Common	98,825	60,027	31,538	7,769	-7,180	-6,968
Net Income Growth	139.57%	90.33%	305.96%	-	-	-
Shares Outstanding (Basic)	1,374	1,354	1,264	1,253	1,192	1,157
Shares Outstanding (Diluted)	1,469	1,460	1,440	1,428	1,192	1,157
Shares Change (YoY)	0.78%	1.36%	0.83%	19.83%	3.05%	55.89%
EPS (Basic)	71.92	44.33	24.94	6.20	-6.02	-6.02
EPS (Diluted)	67.30	41.15	21.93	5.44	-6.04	-6.04
EPS Growth	137.72%	87.61%	303.17%	-	-	-
Free Cash Flow	133,704	93,579	47,872	25,496	28,154	14,794
Free Cash Flow Per Share	91.03	64.10	33.24	17.85	23.62	12.79
Gross Margin	62.44%	62.96%	75.90%	66.24%	67.59%	78.97%
Operating Margin	28.57%	23.70%	23.29%	7.34%	-15.77%	-28.33%
Profit Margin	28.93%	24.24%	24.16%	8.27%	-12.07%	-23.12%
Free Cash Flow Margin	39.14%	37.79%	36.67%	27.14%	47.32%	49.08%
EBITDA	97,656	59,485	32,626	8,392	-8,729	-7,900
EBITDA Margin	28.59%	24.02%	24.99%	8.93%	-14.67%	-26.21%
D&A For EBITDA	67.27	786.24	2,224	1,495	651.52	637.83
EBIT	97,589	58,699	30,402	6,897	-9,380	-8,538
EBIT Margin	28.57%	23.70%	23.29%	7.34%	-15.77%	-28.33%
Effective Tax Rate	15.46%	16.49%	13.03%	19.93%	-	-
Advertising Expenses	-	76,429	49,971	41,457	39,298	25,868

Source: S&P Capital IQ. Standard template. Financial Sources.