Pinduoduo reported revenues of ¥7.3 billion ($1.1 billion) for the second quarter ended June 30, 2019, beating the consensus estimate of $878.8 million and up 169% year over year. Operating expenses decreased and operating margin improved to (20.4)%.
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Pinduoduo (NASDAQ: PDD) 1Q19 Results: Online Marketing Services Boost Revenues, Operating Margin Impacted by Soaring Costs
Pinduoduo reported 1Q19 revenues of ¥4.5 billion, up 228% year over year and beating the consensus estimate of ¥4.1 billion.
Pinduoduo (NASDAQ: PDD) 4Q18 Results: Strong Revenue Growth Thanks to Boost in Active Buyers and Average Annual Spending
Pinduoduo recorded 4Q18 revenue of ¥5.7 billion, up 379.4% year over year while FY18 revenue was ¥13.1 billion, up 652% year over year. Operating expenses continued rising with operating margin worsening to a negative 46.7%.
Pinduoduo Inc., founded in 2015 and based in Shanghai, China, operates an e-commerce platform in China that offers a range of merchandise. The company was formerly known as Walnut Street Group Holding Ltd.
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In this report, we profile ten of the world’s biggest e-commerce marketplaces and look at the global prospects for e-commerce growth.