Pinduoduo Turns To Profit In Q3 On Strong Revenue Growth - Quick Facts

(RTTNews) - Pinduoduo Inc. (PDD), China's largest agriculture and interactive commerce platform, reported Friday that third-quarter net income attributable to ordinary shareholders was 1.64 billion Chinese yuan or $254.5 million, compared to net loss of 784.7 million yuan last year.

Earnings per ADS were 1.15 yuan or $0.18, compared to last year's net loss per ADS of 0.66 yuan.

Adjusted net income attributable was 3.15 billion yuan or $488.9 million, compared to 466.4 million yuan in the same quarter of 2020. Adjusted earnings per ADS were 2.18 yuan or $0.34, compared to 0.33 yuan in the same quarter of 2020.

Total revenues in the quarter were 21.51 billion yuan or $3.34 billion, an increase of 51 percent from 14.21 billion yuan a year ago.

Average monthly active users in the quarter was 741.5 million, an increase of 15 percent from 643.4 million in 2020.

Active buyers in the twelve-month period ended September 30 was 867.3 million, up 19 percent from the same period last year.