China's Pinduoduo suffers $11 billion slump in value after big loss
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Pinduoduo (PDD) Misses Q3 EPS by 20c, Revenues Miss
November 20, 2019 5:49 AM ESTPinduoduo (NASDAQ: PDD) reported Q3 EPS of ($0.28), $0.20 worse than the analyst estimate of ($0.08). Revenue for the quarter came in at $1.05 billion versus the consensus estimate of $1.06 billion.
Third Quarter 2019 Highlights
GMV1 in the twelve-month period ended September 30, 2019 was RMB840.2 billion (US$2117.5 billion), an increase of 144% from RMB344.8 billion in the twelve-month period ended September 30, 2018. Total revenues in the quarter were RMB7,513.9 million (US$1,051.2 million), an increase of 123% from RMB3,372.4 million in the same quarter of 2018. Average monthly active users3 in the quarter were... More