Pinduoduo Inc. (NASDAQ:PDD) is reporting third quarter earnings results on Thursday 12th November 2020, before market open.
The consensus estimates from Thomson Reuters are loss of $ 0.17 per share.
For the full year, analysts predict revenues of $ 7336.55 million, while looking forward to loss of $ 0.58 per share.
Previous Quarter Performance
Pinduoduo Inc. disclosed loss for the second quarter of $ 0.01 per share, from the revenue of $ 1,725.90 million. The quarterly revenues up 65.69 percent compared with the same quarter last year. According to street consensus, PDD was expected to report 2Q20 loss of $ 0.20 per share from revenue of $ 1756.28 million. The bottom line results beat street analysts by $ 0.19 or 95.00 percent, at the same time, top line results fell short of analysts by $ 30.38 million or 1.73 percent.
Stock Performance
Shares of Pinduoduo Inc. traded up $ 8.37 or 8.12 percent on Wednesday, reaching $ 111.46 with volume of 11.86 million shares. Pinduoduo Inc. has traded high as $ 113.44 and has cracked $ 100.51 on the downward trend
The closing price of $ 111.46, representing a 241.36 % increase from the 52 week low of $ 30.20 and a 11.73 % decrease over the 52 week high of $ 116.79.
The company has a market capital of $ 133.49 billion and is part of the Consumer Cyclical sector and Specialty Retail industry.
Conference Call
Pinduoduo Inc. will be hosting a conference call at 7:30 AM eastern time on 12th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.pinduoduo.com
Pinduoduo Inc., through its subsidiaries, operates an e-commerce platform in the Peoples Republic of China. It operates Pinduoduo, a mobile platform that offers a range of products, including apparel, shoes, bags, mother and childcare products, food and beverage, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc.
