PDD Holdings (PDD) Cost of Revenue (2017 - 2026)
PDD Holdings' (PDD) quarterly Cost of Revenue came in at $7.1 billion in Q2 2026, up 10.55% year-over-year from $6.4 billion in Q2 2025, and up 4.1% quarter-over-quarter from $6.8 billion in Q1 2026.
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PDD Holdings (PDD) Cost of Revenue (2017 - 2026) Analysis & Trends
PDD Holdings has disclosed Cost of Revenue across 10 years of filings, most recently posting $7.1 billion for Q2 2026.
- In Q2 2026, Cost of Revenue rose 10.55% year-over-year to $7.1 billion; the TTM figure through Jun 2026 stood at $28.3 billion (up 16.87% YoY), while the FY2025 annual figure was $27.0 billion, up 28.05% from the prior year.
- Cost of Revenue came in at $7.1 billion for Q2 2026 at PDD Holdings, up from $6.8 billion in the prior quarter.
- In the past five years, Cost of Revenue ranged from a high of $7.9 billion in Q4 2025 to a low of $1.0 billion in Q3 2022.
- Average Cost of Revenue over 5 years is $4.4 billion, with a median of $4.8 billion recorded in 2023.
- Year-over-year, Cost of Revenue tumbled 31.14% in 2022 and soared 281.74% in 2023.
- Over 5 years, Cost of Revenue stood at $1.3 billion in 2022, then soared by 281.74% to $4.9 billion in 2023, then surged by 32.54% to $6.5 billion in 2024, then grew by 20.44% to $7.9 billion in 2025, then dropped by 10.27% to $7.1 billion in 2026.
- Per Business Quant data, the three most recent Cost of Revenue figures were $7.1 billion in Q2 2026, $6.8 billion in Q1 2026, and $7.9 billion in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Alibaba Group Holding | 263.05 Bn | 227.79 Bn | 15.11 Bn | 24.48 Bn |
| 2 | Booking Holdings | 126.16 Bn | 108.94 Bn | 4.98 Bn | 2.37 Bn |
| 3 | PDD Holdings | 112.31 Bn | 82.02 Bn | 9.45 Bn | 7.08 Bn |
| 4 | Airbnb | 98.07 Bn | 86.00 Bn | 2.98 Bn | 633.00 Mn |
| 5 | Mercadolibre | 90.61 Bn | 75.42 Bn | 4.16 Bn | 6.01 Bn |
| 6 | Ebay | 49.77 Bn | 46.46 Bn | 2.30 Bn | 832.00 Mn |
| 7 | Expedia | 31.98 Bn | 24.85 Bn | 3.91 Bn | 403.00 Mn |
| 8 | Maplebear | 10.57 Bn | 9.72 Bn | 751.00 Mn | 292.00 Mn |
| 9 | Full Truck Alliance | 7.59 Bn | 6.63 Bn | - | - |
| 10 | Etsy | 6.70 Bn | 5.58 Bn | 484.05 Mn | 184.27 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 7.08 Bn |
| Mar 31, 2026 | 6.80 Bn |
| Dec 31, 2025 | 7.89 Bn |
| Sep 30, 2025 | 6.58 Bn |
| Jun 30, 2025 | 6.40 Bn |
| Mar 31, 2025 | 5.64 Bn |
| Dec 31, 2024 | 6.55 Bn |
| Sep 30, 2024 | 5.66 Bn |
| Jun 30, 2024 | 4.64 Bn |
| Mar 31, 2024 | 4.53 Bn |
| Dec 31, 2023 | 4.94 Bn |
| Sep 30, 2023 | 3.68 Bn |
| Jun 30, 2023 | 2.58 Bn |
| Mar 31, 2023 | 1.62 Bn |
| Dec 31, 2022 | 1.29 Bn |
| Sep 30, 2022 | 1.04 Bn |
| Jun 30, 2022 | 1.19 Bn |
| Mar 31, 2022 | 1.13 Bn |
| Dec 31, 2021 | 1.02 Bn |
| Sep 30, 2021 | 1.02 Bn |
API Access
PDD Holdings Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=PDD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "PDD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=PDD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();