PDD Holdings Inc. (PDD) Cost of Revenue (2017 - 2025)

PDD Holdings (PDD) has 9 years of Cost of Revenue data on file, last reported at $4.9 billion in Q4 2025.

• Quarterly Cost of Revenue rose 14.35% year-over-year to $4.9 billion in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $17.6 billion (up 13.62% YoY) and the FY2025 annual result came in at $17.9 billion, up 17.5% from the prior year.
• Cost of Revenue advanced to $4.9 billion in Q4 2025 per PDD's latest filing, from $4.3 billion in the prior quarter.
• The five-year high for Cost of Revenue was $4.9 billion in Q4 2025, with the low at $1.6 billion in Q3 2021.
• Average Cost of Revenue over 5 years is $3.0 billion, with a median of $2.8 billion recorded in 2022.
• The widest YoY moves for Cost of Revenue: up 92.51% in 2021, down 20.9% in 2021.
• PDD Holdings' Cost of Revenue stood at $1.8 billion in 2021, then surged by 44.15% to $2.6 billion in 2022, then soared by 45.94% to $3.8 billion in 2023, then increased by 14.5% to $4.3 billion in 2024, then gained by 14.35% to $4.9 billion in 2025.
• Business Quant data shows PDD's Cost of Revenue at $4.9 billion in Q4 2025, $4.3 billion in Q3 2025, and $3.8 billion in Q2 2025.