Pinduoduo is growing fast in China

Pinduoduo is growing fast in China

Pinduoduo: Q3 revenue was 35.5 billion yuan, up 65.1% year on year

On November 28, Pinduoduo released its financial report for the third quarter of 2022, which showed that Pinduoduo’s revenue in the third quarter was 35.5 billion yuan, up 65.1% year-on-year. In the third quarter, Pinduoduo continued to increase investment in technological innovation.At US GAAP, R&D spending in the quarter increased 11.4% year-on-year to 2.7 billion yuan, a record high. Net income attributable to Pinduoduo common shareholders was 8.8963 billion yuan (about $1.3282 billion), up 268% from 2.4146 billion yuan in the same period last year. Non-GAAP net profit was 10.776.3 billion yuan (about 1.6089 billion U.S. dollars), up 161% from 4.1253 billion yuan in the same period last year.

Source: online resource

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