Cyclic nucleotide phosphodiesterase with a dual-specificity for the second messengers cAMP and cGMP, which are key regulators of many important physiological processes (PubMed:10454575). Regulates angiogenesis by inhibiting the cAMP-dependent guanine nucleotide exchange factor RAPGEF3 and downstream phosphatidylinositol 3-kinase gamma-mediated signaling (By similarity). Controls cardiac contractility by reducing cAMP concentration in cardiocytes (PubMed:15294162). a nucleoside 3',5'-cyclic phosphate + H2O = a nucleoside 5'-phosphate + H(+) 3',5'-cyclic AMP + H2O = AMP + H(+) 3',5'-cyclic GMP + H2O = GMP + H(+) Binds 2 divalent metal cations per subunit. Binds 2 divalent metal cations per subunit. Inhibited by cGMP. Homodimer (By similarity). Interacts with PIK3CG; regulates PDE3B activity and thereby cAMP levels in cells (PubMed:15294162). Interacts with RAPGEF3 and PIK3R6; form a signaling complex that regulates phosphatidylinositol 3-kinase gamma in angiogenesis (By similarity). Abundant in adipose tissues. Phosphorylation at Ser-273 mediates insulin-induced activation of PDE3B. Belongs to the cyclic nucleotide phosphodiesterase family. PDE3 subfamily.