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PINDUODUO INC.

(PDD)
  Report
Delayed Nasdaq  -  04:00:00 2023-02-06 pm EST
93.81 USD   -1.92%
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Pinduoduo Posts Higher 3Q Revenue, Profit

11/28/2022 | 07:13am EST

By Will Feuer


Pinduoduo Inc. posted higher sales and a jump in earnings for the third quarter, driven by strength in the agriculture and e-commerce company's online-marketing business and transaction-services segment.

The Chinese company reported profit of 10.59 billion yuan, or $1.49 billion, for the three months ended Sept. 30, compared with 1.64 billion yuan a year earlier. Earnings per American depositary share came in at 7.34 yuan, or $1.03, compared with 1.15 yuan in the same period a year earlier.

Adjusted earnings came to $1.21 per ADS, topping analyst expectations for adjusted earnings of 67 cents per ADS.

Revenue jumped 65% to 35.5 billion yuan, or $5 billion. Analysts surveyed by FactSet were expecting revenue of $4.23 billion. The rise in revenue was driven by online-marketing services and transaction services, partially offset by a decline in merchandise sales, the company said.

Total costs of revenue rose 13%, mostly from higher fulfillment fees and payment-processing costs.

The company plans to increase its investments in research and development to enhance the efficiency of its supply chain and "agricultural digital inclusion," Chairman and Chief Executive Lei Chen said.

ADSs of Pinduoduo, which are traded on the Nasdaq, rose more than 11% in premarket trading to $73.24.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

11-28-22 0712ET

Stocks mentioned in the article
ChangeLast1st jan.
LUXIN VENTURE CAPITAL GROUP CO., LTD. -1.79% 13.71 End-of-day quote.10.48%
NASDAQ COMPOSITE -1.00% 11887.45 Real-time Quote.13.58%
NINESTAR CORPORATION -0.31% 54.21 End-of-day quote.4.47%
PINDUODUO INC. -1.92% 93.81 Delayed Quote.17.29%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.05% 6.79632 Delayed Quote.-1.75%
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Analyst Recommendations on PINDUODUO INC.
More recommendations
Financials
Sales 2022 130 B 19 198 M 19 198 M
Net income 2022 30 338 M 4 467 M 4 467 M
Net cash 2022 113 B 16 587 M 16 587 M
P/E ratio 2022 28,7x
Yield 2022 -
Capitalization 806 B 119 B 119 B
EV / Sales 2022 5,31x
EV / Sales 2023 3,90x
Nbr of Employees 9 762
Free-Float 78,0%
Chart PINDUODUO INC.
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Pinduoduo Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends PINDUODUO INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 43
Last Close Price 637,14 CNY
Average target price 736,32 CNY
Spread / Average Target 15,6%
EPS Revisions
Managers and Directors
Lei Chen Chairman & Chief Executive Officer
Jun Liu Vice President-Finance
Jun Yun Xiao Senior Vice President-Operation
Nan Peng Shen Independent Non-Executive Director
Qi Lu Independent Director
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