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Pinduoduo (NASDAQ: PDD) 2Q19 Results: Revenue Beats Consensus Thanks to Strong User Growth

Executive Summary

  • Pinduoduo reported 2Q19 revenues of ¥7.3 billion ($1.1 billion), up 169% year over year and beating the consensus estimate of ¥6.2 billion ($878.8 million).
  • Operating expenses decreased, and operating margin improved to (20.4)%.
  • There were 483.2 million active buyers on Pinduoduo’s platforms for the 12 months ended June 30, 2019, up 41% year over year.

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