"PDD Market News" Pinduoduo's U.S. stock pre-market once plummeted 8.5%, with fourth-quarter revenue falling short of market expectations
PDD's U.S. stock pre-market once plummeted 8.5%. In the fourth quarter, revenue was RMB 110.61 billion, a year-on-year increase of 24%, but lower than market expectations. NON-GAAP net profit was RMB 29.85 billion, a year-on-year increase of 17%, slightly exceeding expectations. Analysts' average forecast for adjusted net profit in the fourth quarter is RMB 29.48 billion, and the average revenue forecast is RMB 115.38 billion. Alibaba and JD.com’s stock prices fell by 4.2% and 5.4%, respectively
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China's cost-effective e-commerce leader – Pinduoduo (PDD.O) fell as much as 8.5% in pre-market trading on Thursday, as the company's revenue for the fourth quarter of last year missed market expectations.
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Pinduoduo previously announced its performance for the fourth quarter and the full year of 2024, with fourth-quarter revenue of 110.61 billion yuan, a year-on-year increase of 24%, which was below market expectations; NON-GAAP net profit was 29.85 billion yuan, a year-on-year increase of 17%, slightly exceeding market expectations.
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LSEG's comprehensive analyst forecast for the company's adjusted net profit in the fourth quarter has a mean estimate of 29.48 billion yuan, while the mean estimate for revenue is 115.38 billion yuan.
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Chinese e-commerce leaders listed in the U.S. – Alibaba (BABA.N) and JD.com (JD.O) fell 4.2% and 5.4%, respectively, continuing the downward trend seen in the Hong Kong stock market. (End)
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(Reported by Lin Yuhan; Edited by Yang Shuzhen)
