PDD Holdings Inc. (PDD) Revenue History
Annual and quarterly revenue from 2016 to 2024
Compound Annual Growth Rate (CAGR)
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PDD Revenue Growth
Revenue Breakdown (FY 2024)
PDD's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
PDD Revenue Analysis (2016–2024)
As of May 7, 2026, PDD Holdings Inc. (PDD) generated trailing twelve-month (TTM) revenue of $418.54 billion, reflecting solid growth of +9.0% year-over-year. The most recent quarter (Q3 2025) recorded $108.28 billion in revenue, up 4.1% sequentially.
Looking at the longer-term picture, PDD's 5-year compound annual growth rate (CAGR) stands at +67.2%, indicating outstanding long-term growth trajectory. The company achieved its highest annual revenue of $393.84 billion in 2024, representing a new all-time high.
Revenue diversification analysis shows PDD's business is primarily driven by Online marketing services and others (50%), and Transaction services (50%). With over half of revenue concentrated in Online marketing services and others, the company maintains significant focus in this area while developing other growth vectors.
When compared to Consumer Cyclical sector peers including BABA (+5.2% YoY), JD (+16.6% YoY), and VIPS (-5.3% YoY), PDD has underperformed the peer group in terms of revenue growth. Compare PDD vs BABA →
PDD Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| PDDCurrent | $418.5B | +9.0% | +67.2% | 27.5% | |
 BABA | $996.3B | +5.2% | +14.3% | 14.1% | |
 JD | $1.16T | +16.6% | +15.0% | 3.3% | |
 VIPS | $108.4B | -5.3% | +3.1% | 8.5% | |
 SE | $16.8B | +35.8% | +50.5% | 3.9% | |
 MELI | $28.9B | +39.1% | +48.7% | 11.1% |
PDD Historical Revenue Data (2016–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $393.84B | +59.0% | $239.94B | 60.9% | $108.42B | 27.5% |
| 2023 | $247.64B | +89.7% | $155.92B | 63.0% | $58.70B | 23.7% |
| 2022 | $130.56B | +39.0% | $99.10B | 75.9% | $30.40B | 23.3% |
| 2021 | $93.95B | +57.9% | $62.23B | 66.2% | $6.90B | 7.3% |
| 2020 | $59.49B | +97.4% | $40.21B | 67.6% | $-9,380,325,000 | -15.8% |
| 2019 | $30.14B | +129.7% | $23.80B | 79.0% | $-8,538,211,000 | -28.3% |
| 2018 | $13.12B | +652.3% | $10.21B | 77.9% | $-10,799,741,000 | -82.3% |
| 2017 | $1.74B | +245.5% | $1.02B | 58.6% | $-595,724,000 | -34.2% |
| 2016 | $504.9M | - | $-73,006,000 | -14.5% | $-286,210,000 | -56.7% |
Full PDD Stock Analysis
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Start ComparisonPDD — Frequently Asked Questions
Quick answers to the most common questions about buying PDD stock.
Is PDD's revenue growth accelerating or slowing?
PDD maintains +9.0% revenue growth, in line with its 5-year CAGR of +67.2%. TTM revenue stands at $418.5B. Growth rate remains consistent with historical average.
What is PDD's long-term revenue growth rate?
PDD Holdings Inc.'s 5-year revenue CAGR of +67.2% reflects the sustained expansion pattern. Current YoY growth of +9.0% is near this long-term average.
How is PDD's revenue distributed by segment?
PDD reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2016-2024 are available for download. Segment mix reveals concentration and diversification trends.