- Pinduoduo Inc (NASDAQ:PDD) reported first-quarter FY22 revenue growth of 7% year-on-year to $3.75 billion, beating the consensus of $3.05 billion.
- Average monthly active users rose 4% Y/Y to 751.3 million.
- Active buyers in the twelve months ended March 31, 2022, increased 7% Y/Y to 881.9 million.
- Revenues from online marketing services and others rose 29% Y/Y to $2.86 billion.
- Revenues from transaction services jumped 91% Y/Y to $882 million.
- Revenues from merchandise sales declined 99% Y/Y to $6.9 million.
- Pinduoduo posted a non-GAAP operating profit of $580.1 million.
- Non-GAAP earnings per ADS of $0.47 beat the consensus of $0.25.
- Pinduoduo held $15 billion in cash and equivalents and used $1.43 billion in operating cash flow.
- "We remain focused on making long-term investments in agriculture and abide by our philosophy of 'Benefit All,' 'People First,' and 'More Open,'" said Lei Chen, Chair and CEO.
- "At this current scale, it is inevitable for us to see slower growth," said Jun Liu, VP of Finance.
- Price Action: PDD shares traded higher by 7.32% at $45.00 in the premarket on the last check Friday.
- Photo Via Company
