Pinduoduo (PDD) reported earnings on Wed 21 Aug 2019 (b/o)

** charts after earnings **

 

Pinduoduo beats by $0.15; beats on RMB revs

Reports Q2 (Jun) loss of $0.04 per share, $0.15 better than the S&P Capital IQ Consensus of ($0.19); revenues rose 169.1% year/year to RMB 7.29 bln vs the RMB 6.15 bln S&P Capital IQ Consensus.

GMV in the twelve-month period ended June 30, 2019 was RMB709.1 billion, an increase of 171% from RMB 262.1 billion in the twelve-month period ended June 30, 2018.

Average monthly active users in the quarter were 366.0 million, an increase of 88% from 195.0 million in the same quarter of 2018.

Co also announced the appointment of Anthony Kam Ping Leung to serve as an independent director of the Company, effective on August 21, 2019.