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China’s Pinduoduo Misses Quarterly Revenue Estimates

A slowdown in Chinese growth and Covid-19 outbreaks have taken a toll on consumer spending. Revenue was 27.23bn yuan ($4.29bn) in the 4th quarter, below estimates of 30.10bn yuan

The Pinduoduo logo is seen in this image taken July 17, 2018 by Thomas White, Reuters.


Chinese e-commerce platform Pinduoduo Inc on Monday reported quarterly revenue that missed Wall Street estimates, as it battles fierce competition from Alibaba and JD.com in the rapidly growing online shopping space.

US-listed shares of Pinduoduo fell 12% in premarket trading.

A comparatively new entrant in the Chinese e-commerce sector, Pinduoduo faces competition from larger rivals with strong infrastructure and logistics as well as dominant market positions.

A slowdown in Chinese economic growth and Covid-19 outbreaks have also taken a toll on consumers’ discretionary spending.

Total revenue was 27.23 billion yuan ($4.29 billion) in the fourth quarter, below estimates of 30.10 billion yuan, according to IBES data from Refinitiv.

Net income attributable to ordinary shareholders was 6.62 billion yuan in the quarter ended December 31, compared with a loss of 1.38 billion yuan a year ago.


• Reuters with additional editing by Jim Pollard



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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.


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