PDD Q2 2023 Earnings Report — PDD Holdings Inc. Revenue & Financial Results | Market Cap Arena

PDD Holdings Inc.PDD

Q2 2023 Earnings

Reported June 30, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2023	Q1 2023	Q2 2022	QoQ Change	YoY Change
Revenue	$7.6B	$5.5B	$4.6B	38.9%	66.3%
Op. Income	$1.9B	$1.0B	$1.3B	83.6%	46.2%
Gross Margin	64.3%	70.4%	74.7%	-6.2pp	-10.4pp
Net Margin	25.1%	21.5%	28.3%	3.5pp	-3.2pp
EPS (Diluted)	$1.32	$0.81	$0.91	61.9%	44.2%
Free Cash Flow	$3.4B	$196M	$2.8B	1648.5%	20.8%

Revenue Flow

Item	Amount
REVENUE	$7.6B
Cost of Revenue	$2.7B
GROSS PROFIT	$4.9B
R&D Expenses	$399M
Selling & Marketing	$2.6B
General & Administrative	$87M
SG&A Expenses	$2.7B
Other Expenses	$0
Operating Expenses	$3.0B
Cost & Expenses	$5.8B
OPERATING INCOME	$1.9B
Interest Income	$334M
Interest Expense	$2M
Other Income/Expenses	$518M
INCOME BEFORE TAX	$2.4B
Income Tax Expense	$461M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$81M
EBIT	$1.9B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$7.6B
Cost of Revenue	$2.7B
GROSS PROFIT	$4.9B
R&D Expenses	$399M
Selling & Marketing	$2.6B
General & Administrative	$87M
SG&A Expenses	$2.7B
Other Expenses	$0
Operating Expenses	$3.0B
Cost & Expenses	$5.8B
OPERATING INCOME	$1.9B
Interest Income	$334M
Interest Expense	$2M
Other Income/Expenses	$518M
INCOME BEFORE TAX	$2.4B
Income Tax Expense	$461M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$81M
EBIT	$1.9B
EBITDA	$1.9B
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$0
Stock-Based Compensation	$276M
Deferred Income Tax	$0
Other Non-Cash Items	$1.2B
Change in Working Capital	$0
OPERATING CASH FLOW	$3.4B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$1.7B
NET CASH FROM INVESTING	-$1.7B
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	$1M
FREE CASH FLOW	$3.4B
Net Change in Cash	$1.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$4.6B
Short-Term Investments	$21.6B
Net Receivables	$973M
Inventory	$0
Other Current Assets	$7.6B
TOTAL CURRENT ASSETS	$35.2B
PP&E (Net)	$466M
Goodwill	$0
Intangible Assets	$3M
Long-Term Investments	$0
Tax Assets	$226M
Other Non-Current Assets	$4.1B
TOTAL NON-CURRENT ASSETS	$4.8B
TOTAL ASSETS	$40.1B
Account Payables	$9.1B
Short-Term Debt	$2.1B
Deferred Revenue	$240M
Other Current Liabilities	$2.4B
TOTAL CURRENT LIABILITIES	$18.4B
Long-Term Debt	$239M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$9M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$431M
TOTAL LIABILITIES	$18.8B
Common Stock	$25.7K
Additional Paid-In Capital	$15.0B
Retained Earnings	$5.3B
Treasury Stock	$0
Accum. Other Comp. Income	$915M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$21.2B
Minority Interest	$0
TOTAL EQUITY	$21.2B
TOTAL LIABILITIES & EQUITY	$40.1B
Total Debt	$2.7B
Net Debt	-$1.9B