Pinduoduo Inc

PDD NASDAQ
PDD
Pinduoduo Inc NASDAQ
 
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Market Cap
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Upcoming Earnings
EPS
Market Cap
Div Yield
P/E

Important events

Nov 292021

Pinduoduo’s paltry earnings

Grocery tech star Pinduoduo’s poor earnings pile onto a slew of disappointing results from U.S.-listed Chinese stocks, sending prices plummeting.

  • The stock was down over 16% on Friday after the e-commerce platform posted a brutal revenue miss.
  • Its $3.37bn in revenue was up 51% y-o-y but missed expectations of $4.04bn, with EPS coming in at $0.34.
  • Covid has hit consumer spending as fresh lockdowns around the nation prompt economic concern.
  • Annual shopper count was up by only 19%, marking its slowest level of growth as a public company. Although it does have 900m users already.
  • Prices are down 61% for the year after a Chinese crackdown on big tech companies in the name of consumer protection.
  • It’s been a sad earnings season for U.S.-listed Chinese stocks. Alibaba (BABA) is down nearly 18% since its regulatory-induced earnings miss, and Baidu (BIDU) lost 11% last week on the back of slowing growth.
Illustration by TradingView