PDD Holdings Inc. (NASDAQ:PDD) Q2 2023 Earnings Call Transcript

PDD Holdings Inc. reported Q2 2023 earnings, beating expectations with EPS of $10.47 compared to $1.12 expected. The company achieved a 66% YoY increase in revenue, reflecting growing consumer trust and increased demand. They are focused on high-quality development, investing in research and development, and emphasizing agriculture as a key strategy. The company is actively promoting innovation in agriculture through partnerships, research programs, and agritech competitions.
九月. 19, 2023 08:16
PDD Holdings Inc. (NASDAQ:PDD) Q2 2023 Earnings Call Transcript

PDD Holdings Inc. (NASDAQ:PDD) reported second-quarter earnings that exceeded expectations. The company reported earnings per share (EPS) of $10.47, compared to expectations of $1.12.

The earnings call began with an introduction by Mr. Chen Peng, who welcomed participants and provided information about accessing the company's earnings release. Chen also mentioned that the call would include discussions of non-GAAP financial measures and forward-looking statements.

During the call, Chairman and Co-Chief Executive Officer Cen Lei and Executive Director and Co-Chief Executive Officer Zhao Jiazhen provided an overview of the company's performance and strategic focus. They highlighted the growth in consumer demand and the success of promotional initiatives, such as the June 18 shopping festival.

Lei emphasized the company's commitment to research and development and its focus on high-quality growth. He discussed the company's investments in agriculture and its support for innovation in the industry, including partnerships with leading agronomic institutes and the establishment of agritech demonstration hubs.

Jiazhen discussed the company's strategy for high-quality development, which includes focusing on high-quality consumption, high-quality supply, and building a high-quality ecosystem. She highlighted the company's efforts to provide savings and better services to consumers, support digital transformation in agriculture, and enhance the platform ecosystem.

VP of Finance Liu Jun provided an update on the company's financial performance for the second quarter. She noted the significant increase in total revenues and discussed the company's investments in various areas, such as giving back to consumers, supporting SME merchants, and enhancing platform governance.

The Q&A session included questions from analysts about the company's high-quality development strategy, competition in the industry, and the progress of the company's global initiative, Temu.

In conclusion, PDD Holdings Inc. reported strong second-quarter earnings, exceeding expectations. The company's focus on high-quality growth, investments in agriculture, and efforts to provide savings and better services to consumers have contributed to its success.