On November 12, Pinduoduo released its Q3 financial report for 2020, with revenue of 14.21 billion yuan in the quarter, and market expectations of 12.205 billion yuan, a year-on-year increase of 47%. Among them, the platform's online marketing technology service revenue was approximately 12.878 billion yuan, a year-on-year increase of 92%, which is an indispensable contribution.
html's monthly active users were 643.4 million, compared with 429.6 million in the same period last year, a year-on-year increase of 50%. In contrast, Alibaba had 881 million monthly active users in the third quarter, and Pinduoduo was further approaching.What surprised the outside world was that Pinduoduo achieved its first quarterly profit since its listing in the quarter. Under non-US General Accounting Standards (NON-GAAP), Pinduoduo Q3's net profit attributable to common shareholders was 466.4 million yuan, compared with the net loss of 1.6604 billion yuan in the same period last year. After the release of
financial report, the stock price of Pinduoduo rose by more than 17% before the market, setting a record high.
Pinduoduo real-time stock price
Specifically, as of the first 12 months of the end of September this year, the transaction volume (GMV) of Pinduoduo platform reached 1457.6 billion yuan, a year-on-year increase of 73%. The rapid growth of
GMV is driven by the dual driving of the number of active buyers on the platform and the average consumption. According to the financial report, the number of annual active buyers of Pinduoduo has reached 731.3 million, a year-on-year increase of 36%; the average annual consumption of a single user further increased to 1,993.1 yuan, a year-on-year increase of 27%. In terms of the number of active buyers on the
platform, as of the end of September this year, the Pinduoduo platform has reached 731.3 million. Compared with 536.3 million in the same period in 2019, a year-on-year increase of 36%. Among them, the increase was 48.1 million in the third quarter. In comparison, Alibaba Q3 used 757 million yuan, which was almost tied by Pinduoduo .
At the same time, the user stickiness of Pinduoduo platform continues to increase. In the third quarter, the average monthly active users of Pinduoduo App reached 643.4 million, an increase of 213.8 million from the same period last year, and a sharp increase of 74.6 million in a single quarter.
Since this year, Pinduoduo has successively launched a series of measures such as fighting the epidemic and helping farmers and helping foreign trade enterprises to convert exports to domestic sales, and has started cooperation with more than 20 major manufacturing production areas in China, including Guangdong, Jiangsu, Zhejiang, Fujian, etc.
At the same time, the investment in "10 billion subsidies" is also increasing. The financial report shows that the marketing expenses of Q3 Pinduoduo reached 10.071 billion, a year-on-year increase of 31.4%. Driven by this, from January to September this year, the net increase of active buyers reached 146.1 million.
Recently, Goldman Sachs quoted a report from data agency Quest Mobile, saying that in the third quarter, the total user time of Pinduoduo APP reached 531 billion minutes, an increase of 101% year-on-year. In the third quarter, the usage time of Pinduoduo users has accounted for 41% of the total length of users of all e-commerce service platforms in China, a significant increase of 7 percentage points from 34% in the second quarter.
html started in August. In order to find incremental factors, Pinduoduo entered the community group buying business and was treated internally as a strategic project, led by Abu, the actual business leader. According to media reports, as of the end of August, in the first batch of cities, Wuhan and Nanchang , Duoduo Maicai's daily order volume has exceeded 400,000 orders, and it is very fierce wherever it goes.Bloomberg latest market expectations show that analysts expect Pinduoduo Q3 revenue was 12.205 billion yuan, adjusted net loss was 1.308 billion yuan, and adjusted loss per share was 1.14 yuan. Previously, Goldman Sachs raised the rating of Pinduoduo from "neutral" to "buy" according to expectations, raising its target price by 68%, from $73.1 to $123.
