PDD Drops 30%: Would You Buy PDD or BABA at $80?
Pinduoduo's stock dropped over 30% after releasing its earnings report.
Although the adjusted net profit reached ¥34.432 billion, exceeding market expectations, several other key revenue metrics fell short. For example, operating revenue was ¥97.06 billion, below the market expectation of ¥99.985 billion; online marketing services and other revenues were ¥49.116 billion, lower than the expected ¥50.496 billion.
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