Pinduoduo Q3 Earnings: Revenue and Profit Growth, But Challenges Persist

$PDD Holdings (PDD.US)$ reported Q3 revenue of RMB 99.35 billion, up 44% YoY, and net profit of RMB 24.998 billion, up 61% YoY but down 22% QoQ. Commission income surged 72% to RMB 50 billion.

Co-CEO Zhao Jiazhen acknowledged that operational limitations and historical team constraints have created disadvantages compared to peers, which are expected to persist for some time. He emphasized the importance of long-term ecological and supply-side quality improvements, calling it a prolonged battle requiring patience.