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PINDUODUO INC.

(PDD)
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Pinduoduo ADRs Down After 3Q Revenue Miss

11/26/2021 | 09:00am EST

By Michael Dabaie

Chinese agriculture and interactive commerce platform Pinduoduo Inc.'s ADRs fell 17% to $67.75 premarket Friday after higher quarterly revenue came in below analyst expectations.

The company reported third-quarter total revenue of 21.5 billion yuan ($3.34 billion), an increase of 51% on year but below FactSet consensus of CNY25.8 billion. The increase was primarily due to an increase in revenues from online marketing services.

Net income attributable to ordinary shareholders was CNY1.64 billion, or $254.5 million, turning around a net loss of CNY784.7 million on year.

Earnings per share were CNY0.29, or 4 cents, from a year earlier loss of CNY0.16 and beating FactSet consensus. Earnings per ADS came to CNY1.15, or 18 cents.

"We are placing more focus on investments in R&D, away from the previous emphasis on sales and marketing in our first five years," said Chief Executive Lei Chen. "We want to leverage our strength in technology to deepen our digital inclusion efforts in agriculture, and will allocate all profits from the third quarter to the '10 Billion Agriculture Initiative'."

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

11-26-21 0900ET

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Analyst Recommendations on PINDUODUO INC.
More recommendations
Financials
Sales 2021 97 830 M 15 411 M 15 411 M
Net income 2021 2 268 M 357 M 357 M
Net cash 2021 107 B 16 834 M 16 834 M
P/E ratio 2021 234x
Yield 2021 -
Capitalization 481 B 75 711 M 75 761 M
EV / Sales 2021 3,82x
EV / Sales 2022 2,58x
Nbr of Employees 7 986
Free-Float -
Chart PINDUODUO INC.
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Pinduoduo Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends PINDUODUO INC.
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 39
Last Close Price 383,75 CNY
Average target price 653,79 CNY
Spread / Average Target 70,4%
EPS Revisions
Managers and Directors
Lei Chen Chairman & Chief Executive Officer
Liu Jun Vice President-Finance
Jun Yun Xiao Senior Vice President-Operation
Nan Peng Shen Independent Director
Qi Lu Independent Director
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