Temu Owner PDD Sees 87% Profit Growth in 2024 Amid Strong E-Commerce Demand
- Fernando Braganca
- Mar 21
- 3 min read
Summary
PDD Holdings, owner of Temu and Pinduoduo, reported an 87% increase in annual profit for 2024, thanks to strong revenue growth in online marketing and transaction services.
PDD’s net profit reached USD 15.4 billion, with revenue climbing by 59% to USD 54.3 billion.
The company’s expansion plans are facing challenges due to global competition, but its focus on innovation and strategic investments is expected to help it navigate future obstacles.
PDD Holdings, the parent company of Temu and Pinduoduo, saw a significant 87% profit surge for 2024, driven by impressive growth in its online marketing and transaction services divisions. The company’s net profit hit USD 15.4 billion, marking a dramatic increase compared to the previous year. With revenue soaring by 59% to USD 54.3 billion, PDD demonstrated its robust performance in the highly competitive e-commerce sector.