The Big Tech is rushing for earnings report: Boon or Bane?
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Spinee
joined discussion · Aug 30, 2022 02:28
Pinduoduo Q2 revenue up 36%, net income climbs 268%
Pinduoduo's application on a smartphone. ![]()
Earnings per American depositary share came in at
6.22 yuan, or
93 cents, compared with 1.69 yuan in the same period a year earlier.
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Adjusted earnings came to
$1.13 per ADS, topping analyst expectations for adjusted earnings of 43 cents per ADS.
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Revenue rose
36% to
31.44 billion yuan, or
$4.69 billion.
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Analysts surveyed by FactSet were expecting revenue of $3.49 billion.
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Quarterly net income attributable shot up a whopping
268% to
US$1.3 billion from a year ago.
Operating profit came in at
US$1.2 billion – a
335% gain. Management cited a "recovery in consumer sentiment" during the second quarter.
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The stock traded at levels not seen since 2021.
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Shares were up
22% around 11 a.m. ET. The stock is up
20% in 2022.
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whqqq : This is the largest revenue I have seen in Chinese stocks. Thank you for providing so much information about this stock recently. I will continue to pay attention to it.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")