PDD Holdings Inc (NASDAQ:PDD) reported third-quarter FY23 revenue growth of 94% year-on-year to $9.44 billion, beating the consensus of $7.69 billion. The Chinese online retailer's...
PDD Holdings Inc (NASDAQ:PDD) reported third-quarter FY23 revenue growth of 94% year-on-year to $9.44 billion, beating the consensus of $7.69 billion. The Chinese online retailer's adjusted earnings per ADS of RMB11.61 ($1.55), compared with RMB8.62 Y/Y, beating the consensus of $1.23. Revenues from online marketing services and others rose 39% Y/Y to $5.44 billion. Revenues from transaction services jumped 315% Y/Y to $4 billion. The Alibaba Group Holding Limited (NYSE:BABA) rival posted an adjusted operating profit of $2.48 billion, up 47% Y/Y. Pinduoduo held $27.8 billion in cash and equivalents and generated $4.46 billion in operating cash flow. Lei Chen, Chairman and Co-CEO, said, "
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