Pinduoduo's revenue in the third quarter was 68.84 billion yuan, a year-on-year increase of 93.9%

According to news from this site 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, a year-on-year increase of 93.9%; the adjusted income per ADS in the third quarter was 11.61 yuan. , estimated at 8.81 yuan. Net profit attributable to Pinduoduo’s ordinary shareholders was 15.5371 billion yuan, a year-on-year increase of 47%; not in accordance with U.S. GAAP, net profit attributable to Pinduoduo’s ordinary shareholders was 17.0271 billion yuan, a year-on-year increase of 37%.

Third quarter results:

Total revenue was 68.8404 billion yuan (approximately US$9.4354 billion), a year-on-year increase of 94%.

Revenue from online marketing services and other services was 39.6877 billion yuan (approximately US$5.4397 billion), a year-on-year increase of 39%.

Revenue from transaction services was 29.1527 billion yuan (approximately US$3.9957 billion), a year-on-year increase of 315%.

The cost of revenue was 26.8302 billion yuan (approximately US$3.6774 billion), a year-on-year increase of 262%.

Overall operating expenses were 25.3541 billion yuan (approximately US$3.4751 billion), a year-on-year increase of 44%.

Sales and marketing expenses were 21.7485 billion yuan (approximately US$2.9809 billion), a year-on-year increase of 55%.

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

R&D expenses were 2.8473 billion yuan (approximately US$390.3 million), compared with 2.6982 billion yuan in the same period in 2022.

Operating profit was 16.656 billion yuan (approximately US$2.2829 billion), a year-on-year increase of 60%. Non-GAAP operating profit was 18.1258 billion yuan (approximately US$2.4844 billion), a year-on-year increase of 47%.

Net profit attributable to Pinduoduo ordinary shareholders was 15.5371 billion yuan (approximately US$2.1295 billion), a year-on-year increase of 47%; not according to U.S. GAAP (Non-GAAP), net profit attributable to Pinduoduo ordinary Net profit for shareholders was 17.0271 billion yuan (approximately US$2.3338 billion), a year-on-year increase of 37%.

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

Non-GAAP, diluted earnings per American depositary share (ADS) was 11.61 yuan (approximately US$1.55), compared with 8.62 yuan per ADS in the same period in 2022 .

Net cash generated from operating activities was 32.5379 billion yuan (approximately US$4.4597 billion), while net cash used in operating activities in the same period in 2022 was 11.6518 billion yuan.

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

This site noticed that after the financial report was released, Pinduoduo surged 12% before the US stock market opened.

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