$PDD Q2 2026 earnings are in
Revenue rose 8% YoY to RMB 112.4B, slightly below expectations, while transaction services grew 13% to RMB 54.7B and remained the key growth driver
Profitability came in stronger than expected. Adjusted EPS reached RMB 19.33, beating the RMB 18.51 consensus, while adjusted net income also topped estimates
PDD continued to step up investment in merchants, R&D and compliance, yet operating cash flow still grew 19% YoY to RMB 25.7B
Growth is slowing, but PDDโs earnings and cash flow show the underlying business remains resilient
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