PDD Holdings Inc. (PDD) Operating Expenses (2017 - 2025)

PDD Holdings (PDD) has 9 years of Operating Expenses data on file, last reported at -$5.9 billion in Q4 2025.

• Quarterly Operating Expenses fell 15.08% year-over-year to -$5.9 billion in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$20.8 billion (down 13.95% YoY) and the FY2025 annual result came in at $21.4 billion, up 19.01% from the prior year.
• Operating Expenses eased to -$5.9 billion in Q4 2025 per PDD's latest filing, from -$5.1 billion in the prior quarter.
• The five-year high for Operating Expenses was -$2.0 billion in Q3 2021, with the low at -$5.9 billion in Q4 2025.
• Average Operating Expenses over 5 years is -$3.6 billion, with a median of -$3.3 billion recorded in 2022.
• Year-over-year, Operating Expenses plunged 284.73% in 2021 and climbed 3.87% in 2022.
• PDD Holdings' Operating Expenses stood at -$2.2 billion in 2021, then plunged by 45.73% to -$3.2 billion in 2022, then tumbled by 40.09% to -$4.4 billion in 2023, then declined by 15.27% to -$5.1 billion in 2024, then declined by 15.08% to -$5.9 billion in 2025.
• Business Quant data shows PDD's Operating Expenses at -$5.9 billion in Q4 2025, -$5.1 billion in Q3 2025, and -$4.5 billion in Q2 2025.