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Pinduoduo (NASDAQ: PDD) 4Q18 Results: Strong Revenue Growth Thanks to Boost in Active Buyers and Average Annual Spending

Executive Summary

  • 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%.
  • Active buyers on Pinduoduo’s platforms for full year 2018 were 418.5 million, increasing 71% year over year.

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