Pinduoduo rose over 4% in morning trading after mixed earnings report.
Pinduoduo Inc(NASDAQ:PDD) reported fourth-quarter FY21 revenue growth of 3% year-on-year to $4.27 billion, missing the consensus of $4.76 billion.
Average monthly active users rose 2% Y/Yto 733.4 million.Active buyers in the twelve months ended December 31, 2021, increased 10% Y/Y to 868.7 million. Annual spending per active buyer rose 33% Y/Y to $441.0.
Revenues from online marketing services and others rose 19% Y/Y to $3.52 billion.Revenues from transaction services jumped 108% Y/Y to $741.3 million.Revenues from merchandise sales declined 98% Y/Y to $12.8 million.
Pinduoduo posted a non-GAAP operating profit of $1.32 billion.Non-GAAP earnings per ADS of $0.92 beat the consensus of $0.35.
Pinduoduo held $14.6 billion in cash and equivalents and generated $2.57 billion in operating cash flow.
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