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The Chinese e-commerce platform Pinduoduo Inc. (NASDAQ: PDD) announced its unaudited Q3 financial results on Monday.
The company beat revenue estimates for the quarter, but fell short of earnings per share (EPS) estimates.
Revenue reported at $4.991 billion (an increase of 65% year-over-year) vs. $4.315 billion estimate.
EPS at $0.302 per share vs. analyst estimate of $0.673 per share.
”We continued to deepen our value creation in the third quarter,” Lei Chen, Chairman and CEO of the company said in a press release.
”We will increase our R&D investment to further enhance the supply chain efficiency and agricultural digital inclusion,” Chen added.
The latest results had a positive impact on the stock price. Shares of Pinduoduo were up by around 14% on Monday, trading $74.97 a share.
Stock performance
Pinduoduo price targets
Pinduoduo is the 136th largest company in the world with a market cap of $94.92 billion.
You can trade Pinduoduo Inc. (NASDAQ: PDD) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
Sources: Pinduoduo Inc., TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap
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