PDD Holdings (PDD) Cost of Revenue (2017 - 2026)
PDD Holdings (PDD) posted Cost of Revenue of $7.08 billion for the quarter ended Jun 30, 2026, up 10.5% from $6.4 billion a year earlier and up 4.1% from the prior quarter.
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PDD Holdings (PDD) Cost of Revenue (2017 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Cost of Revenue at PDD Holdings was $28.34 billion, up 16.9% year-over-year; for the year ended Dec 31, 2025, it came in at $27 billion, up 28.0% from the prior year.
- Annual Cost of Revenue has increased for three consecutive years, with a five-year compound annual growth rate of 55.7% (years ended Dec 2020 to Dec 2025).
- In prior years, PDD Holdings' Cost of Revenue was $21.08 billion in the year ended Dec 31, 2024 (+63.2%), $12.92 billion in the year ended Dec 31, 2023 (+183.2%), $4.56 billion in the year ended Dec 31, 2022 (-8.4%) and $4.98 billion in the year ended Dec 31, 2021 (+68.5%).
- Quarterly Cost of Revenue has run from a low of $1.02 billion in the quarter ended Sep 30, 2021 to a high of $7.89 billion in the quarter ended Dec 31, 2025 over five years.
- On a year-over-year basis, Cost of Revenue has increased in each of the last 16 quarters, with growth averaging 27.1% over the last eight quarters.
- The strongest year-over-year quarter for Cost of Revenue in the past five years was the quarter ended Dec 31, 2023, with growth of 281.7%; the weakest was the quarter ended Dec 31, 2021, with a decline of 42.1%.
- According to Business Quant data, Cost of Revenue for the three prior quarters was $6.8 billion (quarter ended Mar 31, 2026), $7.89 billion (quarter ended Dec 31, 2025) and $6.58 billion (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,273.02 Bn | 4,030.55 Bn | 73.85 Bn | 45.94 Bn |
| 2 | Meta Platforms | 1,882.67 Bn | 1,585.19 Bn | 49.47 Bn | 11.33 Bn |
| 3 | Netflix | 292.72 Bn | 252.92 Bn | 6.52 Bn | 6.04 Bn |
| 4 | Alibaba Group Holding | 258.66 Bn | 82.26 Bn | 15.11 Bn | 24.48 Bn |
| 5 | Shopify | 221.29 Bn | 198.47 Bn | 1.71 Bn | 1.88 Bn |
| 6 | Uber Technologies | 145.86 Bn | 117.84 Bn | 6.38 Bn | 7.82 Bn |
| 7 | Booking Holdings | 120.48 Bn | 53.53 Bn | - | - |
| 8 | PDD Holdings | 115.79 Bn | -126.92 Bn | 9.45 Bn | 7.08 Bn |
| 9 | Spotify Technology | 108.98 Bn | 66.21 Bn | 1.86 Bn | 3.70 Bn |
| 10 | Airbnb | 97.86 Bn | 51.09 Bn | 2.98 Bn | 633.00 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();