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PDD Holdings Inc.

PDDNasdaqServices-Business Services, NECFiscal year ends December 31
Financials through fiscal 2025, year ended Dec 31, 2025Last filing: 20-F on Apr 29, 2026Score 11/30
$81.68+3.07 (+3.91%)

Close on Nov 2, 2026Market cap $116.26BP/E 8.2Yield –

PDD Research and Development Expenses (US$ million) by Quarter

Research and Development Expenses (US$ million) ($M)

QuarterlyAnnual

PDD Research and Development Expenses (US$ million): -$673M in Q2 2026, up 34.3% from a year earlier.

Latest, Q2 2026
-673
Period ended Jun 30, 2026
Change on a year earlier
+34.3%
-501 in Q2 2025
History
31 quarters
Since Q2 2018
Sources
31
Documents cited below

Where the Q2 2026 figure comes from

“|| Research and development expenses | (3,591 | ) | (4,567 | ) | (673 | ) | (7,169 | ) | (8,985 | ) | (1,324 | )”

Source: PDD Holdings Inc. Form 6-K (tm2623874d1_ex99-1.htm, filed 2026-08-25) ↗

Quarterly history

Hover a value to see the sentence it was read from; calculated values show their formula

PeriodEndedResearch and Development Expenses (US$ million) ($M)Year on yearSource
Q2 2026Jun 30, 2026-673+34.3%PDD Holdings Inc. Form 6-K (tm2623874d1_ex99-1.htm, filed 2026-08-25) ↗
Q1 2026Mar 31, 2026-640+29.8%PDD Holdings Inc. Form 6-K (tm2615739d1_ex99-1.htm, filed 2026-05-28) ↗
Q4 2025Dec 31, 2025-714+38.0%PDD Holdings Inc. Form 6-K (tm269789d1_ex99-1.htm, filed 2026-03-26) ↗
Q3 2025Sep 30, 2025-609+39.4%PDD Holdings Inc. Form 6-K (tm2531580d1_ex99-1.htm, filed 2025-11-18) ↗
Q2 2025Jun 30, 2025-501+25.2%PDD Holdings Inc. Form 6-K (tm2524268d1_ex99-1.htm, filed 2025-08-25) ↗
Q1 2025Mar 31, 2025-493+22.3%PDD Holdings Inc. Form 6-K (tm2516198d1_ex99-1.htm, filed 2025-05-27) ↗
Q4 2024Dec 31, 2024-518+28.3%PDD Holdings Inc. Form 6-K (tm259886d1_ex99-1.htm, filed 2025-03-20) ↗
Q3 2024Sep 30, 2024-437+11.8%PDD Holdings Inc. Form 6-K (tm2429127d1_ex99-1.htm, filed 2024-11-21) ↗
Q2 2024Jun 30, 2024-400+6.2%PDD Holdings Inc. Form 6-K (tm2422641d1_ex99-1.htm, filed 2024-08-26) ↗
Q1 2024Mar 31, 2024-403+10.4%PDD Holdings Inc. Form 6-K (tm2415048d1_ex99-1.htm, filed 2024-05-22) ↗
Q4 2023Dec 31, 2023-403+15.6%PDD Holdings Inc. Form 6-K (tm249325d1_ex99-1.htm, filed 2024-03-21) ↗
Q3 2023Sep 30, 2023-390+2.9%PDD Holdings Inc. Form 6-K (tm2331648d1_ex99-1.htm, filed 2023-11-28) ↗
Q2 2023Jun 30, 2023-377-3.3%PDD Holdings Inc. Form 6-K (tm2325046d1_ex99-1.htm, filed 2023-08-29) ↗
Q1 2023Mar 31, 2023-365-13.3%PDD Holdings Inc. Form 6-K (tm2317221d1_ex99-1.htm, filed 2023-05-30) ↗
Q4 2022Dec 31, 2022-349+9.9%PDD Holdings Inc. Form 6-K (tm2310024d1_ex99-1.htm, filed 2023-03-22) ↗
Q3 2022Sep 30, 2022-379+0.9%PDD Holdings Inc. Form 6-K (tm2231418d1_ex99-1.htm, filed 2022-11-28) ↗

Cite this data

StockData. (2026). PDD Research and Development Expenses (US$ million) ($M), quarterly Q2 2018–Q2 2026 [Data set]. Compiled from PDD SEC filings and investor materials. https://stockdatahq.com/stocks/pdd/kpis/sec-is-rnd-usd-m-235

See every metric in the PDD KPI table. Data updated Oct 27, 2026.