Pinduoduo (PDD) Reports Q4 Loss of $0.12 on Revenues of $1.55B

Pinduoduo (NASDAQ: PDD) reported Q4 EPS of ($0.12). Revenue for the quarter came in at $1.55 billion, versus $0 reported last year.

Fourth Quarter 2019 Highlights

• Basic and diluted net loss per ADS were RMB1.52 (US$0.20), compared with RMB2.16 in the same quarter of 2018. Non-GAAP basic and diluted net loss per ADS were RMB0.72 (US$0.12), compared with RMB1.72 in the same quarter of 2018.
• GMV1 in the twelve-month period ended December 31, 2019 was RMB1,006.6 billion (US$2144.6 billion), an increase of 113% from RMB471.6 billion in the twelve-month period ended December 31, 2018.
• Total revenues in the quarter were RMB10,792.7 million (US$1,550.3 million), an increase of 91% from RMB5,653.9 million in the same quarter of 2018.
• Average monthly active users3 in the quarter were 481.5 million, an increase of 77% from 272.6 million in the same quarter of 2018.
• Active buyers4 in the twelve-month period ended December 31, 2019 were 585.2 million, an increase of 40% from 418.5 million in the twelve-month period ended December 31, 2018.
• Annual spending per active buyer5 in the twelve-month period ended December 31, 2019 was RMB1,720.1 (US$247.1), an increase of 53% from RMB1,126.9 in the twelve-month period ended December 31, 2018.

"2019 was an important, formative year for Pinduoduo, a year in which we built up our capabilities and offerings and surpassed RMB1 trillion in GMV for the first time," said Mr. Zheng Huang, Chairman and Chief Executive Officer of Pinduoduo. "We continued to invest in our 585 million users and remain committed to creating an open platform that would benefit all and serve the best interests of our consumers.”

“Since the coronavirus outbreak, we have directed the resources of our ecosystem to support frontline relief efforts, stabilize prices of necessities, and help with the recovery of our merchants and business partners,” Mr. Huang continued.

"We further invested in sales and marketing during the fourth quarter to drive engagement and attract more users,” added Mr. David Liu, Vice President of Strategy. “Our highly engaged users are exploring more categories and making more purchases, driving merchant demand for our online marketing services.”

For earnings history and earnings-related data on Pinduoduo (PDD) click here.

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