PDD Holdings (PDD) Q3 FY25 earnings call

PDD Holdings reported moderate revenue growth in Q3 FY25, driven by transaction services, but profitability was impacted by significant investments in its platform ecosystem and intensified industry competition. The company emphasized a long-term strategic focus on high-quality development and social responsibility, acknowledging that financial performance will fluctuate due to ongoing investments and a complex global regulatory environment. Management reiterated its commitment to supporting merchants and consumers, even if it means sacrificing short-term profits.