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0 0.00040121970791203 -0.000481463649494481 0.000882683357406511 -0.00240731824747229 0.00318969667790088 -0.0069009789760873 -0.0105922002888781
Stock impact report

PDD Holdings misses Q3 expectations as revenue growth moderates [Yahoo! Finance]

Pinduoduo Inc. - American Depositary Shares (PDD) 
Company Research Source: Yahoo! Finance
e-commerce giant faced increasing competition and external uncertainties. The company's shares fell 2.3% following the announcement. The parent company of Pinduoduo posted adjusted earnings per share of RMB21.08 ($2.96) for the third quarter, below the analyst estimate of RMB23.50. Revenue came in at RMB108.28 billion ($15.21 billion), significantly missing the consensus forecast of RMB145.2 billion, though still representing a 9% increase YoY. Net income attributable to ordinary shareholders rose 17% YoY to RMB29.33 billion ($4.12 billion), while non-GAAP net income grew 14% to RMB31.38 billion ($4.41 billion). "In the third quarter, revenues growth continued to moderate, reflecting the ongoing evolution of the competitive landscape and external uncertainties," said Ms. Jun Liu, VP of Finance of PDD Holdings. "As we roll out greater merchant support initiatives and ecosystem investments, financial results may continue to fluctuate from quarter to quarter." The company's opera Show less Read more
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