PDD Earnings

PDD reported its FY2025Q3 earnings on 2025-11-18, showcasing a revenue of 108.28B against an estimate of 108.73B, resulting in a -0.42% surprise. The EPS was 2.97, surpassing the expected 2.21 by 34.39% . The stock experienced a -7.33% price change on the earnings day and a -12.24% change over the next five days, reflecting market reactions to the results.

Following PDD's FY2025Q3 earnings announcement on 2025-11-18, the stock price moved by -7.33% on the day of the release. Over the subsequent five days, it saw a -12.24% change. Historically, PDD's stock price tends to shift by an average of +1.40% in the 10 days leading up to earnings and -3.04% in the 10 days following, providing insight into potential market.

For 2025/Q4, analysts estimate PDD’s annual revenue to reach 124.56B, while the EPS is projected at 20.90. These estimates reflect recent revisions, with revenue estimates revised Revenue Revise Upward by 0.63% and EPS estimates Revise Upward by 0.01% over the past three months, indicating analyst expectation in the company’s performance.

The correlation between PDD's stock price and earnings forecast revisions shows that positive revisions in revenue or EPS often strengthen the stock’s fundamentals. Over the past three months, revenue estimates for FY2025 were Revise Upward by 0.63%, while EPS estimates moved Revise Upward by 0.01% . This trend suggests that price dips could present buying opportunities for investors.

Based on historical trends, PDD's stock price typically moves by +1.40% in the 10 days before its earnings and -3.04% in the 10 days after. For the upcoming 2025/Q4 earnings, analysts expect an EPS of 20.90 and revenue of 124.56B.

The earnings call presents mixed signals. Strong net income growth and cash generation are positive, but declining non-GAAP operating profit margin and increased competition are concerning. Management's focus on long-term investments over short-term profitability suggests fluctuating financial performance. The Q&A reveals management's acknowledgment of competition and regulatory risks, but lacks specific guidance, which may unsettle investors. The focus on long-term strategies and merchant support may stabilize the stock, but immediate reactions are likely neutral due to uncertainties and lack of strong short-term catalysts.