NASDAQ$PDD
PDD Holdings Inc - ADR · Q1 2026 earnings
Q1 2026 earnings · · Before market open · Investor relations
Briefing
PDD Holdings Inc - ADR reported Q1 2026 results with revenue growth driven by transaction services.
PDD Holdings announced unaudited financial results for the first quarter ended March 31, 2026. Total revenues reached RMB106.2 billion, up 11% year-over-year, while operating profit increased 22% to RMB19.6 billion. Net income attributable to ordinary shareholders declined 15% to RMB12.5 billion amid ongoing strategic investments in supply chain capabilities.
- Total revenues RMB106.2 billion (+11% YoY), with transaction services revenue up 20% to RMB56.3 billion.
- Operating profit RMB19.6 billion (+22% YoY); non-GAAP operating profit RMB21.1 billion (+15% YoY).
- Net income attributable to ordinary shareholders RMB12.5 billion (-15% YoY); non-GAAP net income RMB14.1 billion (-17% YoY).
- Basic EPS RMB8.94 per ADS; non-GAAP diluted EPS RMB9.51 per ADS. Cash and equivalents plus short-term investments RMB436.1 billion.
Headline financials
Revenue & EPS history
PDD Holdings · Revenue · Quarterly
¥106B
Revenue by segment
PDD Holdings · ¥106B total across 2 segments · Q1 2026
- Transaction services¥56.3B+19.9%53.0%
- Online marketing services and others¥49.9B+2.4%47.0%
Forward guidance
Company emphasizes long-term supply chain investments as core strategic priority, committing significant resources to first-party brand business and platform ecosystem resilience.
Tailwinds
- Focus on creating greater value for users, industries, and society.
- Supply chain investments to unlock opportunities for partners and drive customer value.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+1.7%
Avg return
Earnings day
+0.1%
Avg return
5 days after
+1.4%
Avg return
30 days after
52%
16 / 31 earnings
Positive
+35.7%
Q3 2020
Best reaction
-31.4%
Q2 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | +0.1% | -0.4% | -4.5% | |
| Q2 2025 | +0.9% | -5.4% | +3.0% | |
| Q1 2025 | -13.7% | -19.1% | -11.3% | |
| Q4 2024 | +4.0% | -0.5% | -25.6% | |
| Q3 2024 | -14.1% | -14.7% | -14.6% | |
| Q2 2024 | -31.4% | -31.3% | -18.5% | |
| Q1 2024 | +5.6% | +8.3% | -1.1% | |
| Q4 2023 | -4.2% | -6.1% | -11.1% | |
| Q3 2023 | +20.4% | +23.4% | +23.5% | |
| Q2 2023 | +21.5% | +27.9% | +18.4% | |
| Q1 2023 | +12.7% | +8.8% | +16.3% | |
| Q4 2022 | -14.2% | -19.6% | -23.8% | |
| Q3 2022 | +19.3% | +31.3% | +23.8% | |
| Q2 2022 | +15.5% | +25.4% | +9.4% | |
| Q1 2022 | +20.1% | +16.9% | +57.3% | |
| Q4 2021 | +11.6% | +3.8% | -12.4% | |
| Q3 2021 | -11.6% | -23.7% | -29.1% | |
| Q2 2021 | +20.7% | +16.7% | +21.2% | |
| Q1 2021 | -8.5% | -4.5% | -2.5% | |
| Q4 2020 | -11.9% | -14.8% | -17.1% | |
| Q3 2020 | +35.7% | +18.8% | +32.5% | |
| Q2 2020 | -14.4% | -8.1% | -17.8% | |
| Q1 2020 | +8.2% | +0.5% | +46.0% | |
| Q4 2019 | -12.9% | -14.6% | +8.9% | |
| Q3 2019 | -22.4% | -10.3% | -8.3% | |
| Q2 2019 | +17.8% | +17.9% | +31.3% | |
| Q1 2019 | -5.2% | -10.7% | -7.7% | |
| Q4 2016 | -5.6% | -8.8% | -17.0% | |
| Q4 2018 | -5.6% | -8.8% | -17.0% | |
| Q4 2017 | -5.6% | -8.8% | -17.0% | |
| Q3 2018 | +19.3% | +13.4% | +8.3% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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