PDD Holdings Inc ADR

PDD: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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PDD Earnings: Raised Valuation by 11% on Lower Sales and Marketing Costs; Shares Cheap

Chelsey Tam

Mar 24, 2025

PDD Holdings' fourth-quarter revenue grew 24% year on year, a deceleration from 44% in the third quarter. Online marketing revenue growth slowed to 17% from 24%, EBIT growth declined to 14% from 46%, and the sales and marketing expenses/revenue ratio declined to 28.3% from 30.7%.

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PDD Holdings Inc ADR

PDD Earnings: Raised Valuation by 11% on Lower Sales and Marketing Costs; Shares Cheap

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