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Pinduoduo's revenue in the third quarter was 68.84 billion yuan, up 93.9% from the same period last year.

2024-06-24 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! According to CTOnews.com news on November 28, pinduoduo's revenue in the third quarter was 68.84 billion yuan, estimated at 54.87 billion yuan, compared with 35.504 billion yuan in the same period last year, an increase of 93.9 percent over the same period last year. The adjusted income per ADS in the third quarter is 11.61 yuan, with an estimate of 8.81 yuan. The net profit belonging to pinduoduo common shareholders was 15.5371 billion yuan, up 47 per cent from the same period last year; without US general accounting standards, the net profit belonging to pinduoduo common shareholders was 17.0271 billion yuan, up 37 per cent from the same period last year.

Third quarter results:

Total revenue was 68.8404 billion yuan ($9.4354 billion), up 94% from a year earlier.

Revenue from online marketing and other services was 39.6877 billion yuan ($5.4397 billion), up 39% from a year earlier.

Revenue from trading services was 29.1527 billion yuan ($3.9957 billion), up 35% from a year earlier.

Revenue costs were 26.8302 billion yuan ($3.6774 billion), up 262% from a year earlier.

Overall operating expenses were 25.3541 billion yuan ($3.4751 billion), up 44% from a year earlier.

Sales and marketing expenses were 21.7485 billion yuan ($2.9809 billion), up 55% from a year earlier.

General and administrative expenses were 758.3 million yuan ($103.9 million), compared with 906.6 million yuan in the same period in 2022.

Spending on R & D was 2.8473 billion yuan ($390.3 million), compared with 2.6982 billion yuan in the same period in 2022.

Operating profit was 16.656 billion yuan ($2.2829 billion), up 60 per cent from a year earlier. Without Non-GAAP, operating profit was 18.1258 billion yuan ($2.4844 billion), up 47 per cent from a year earlier.

The net profit attributed to pinduoduo's common shareholders was 15.5371 billion yuan ($2.1295 billion), up 47% from the same period last year; excluding Non-GAAP, the net profit attributed to pinduoduo's common shareholders was 17.0271 billion yuan ($2.3338 billion), up 37% from the same period last year.

Basic earnings per American depositary share (ADS) were 11.38 yuan ($1.56) and diluted earnings per ADS were 10.60 yuan ($1.45) per share, compared with basic earnings per ADS of 8.38 yuan per share and diluted earnings per ADS of 7.34 yuan per share in the same period in 2022.

Diluted earnings per American depositary share (ADS), not in accordance with Non-GAAP, were 11.61 yuan ($1.55) per share, compared with 8.62 yuan per ADS in the same period in 2022.

Net cash generated from operating activities was 32.5379 billion yuan ($4.4597 billion), compared with 11.6518 billion yuan for operating activities in the same period in 2022.

As of September 30, 2023, pinduoduo's cash, cash equivalents and short-term investments were 202.8 billion yuan ($27.8 billion), compared with 149.4 billion yuan as of December 31, 2022.

CTOnews.com noted that pinduoduo rose 12% before the US stock market after the announcement of the results.

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