Just now $PDD Holdings (PDD.US)$ The 2023 Q2 financial report was announced. The data still exceeded expectations, exceeding expectations N times in a row. It seems that the market and consumers don't understand Pinduoduo. The data predicted each time is far lower than the actual value. There is no need to describe it in words. Let's just look at the picture below!
I. Overall financial data
1. revenue
Q2 Pinduoduo's revenue was 52.28 billion yuan, an increase of 62.8% over the previous year, with a growth rate of 30% + for 5 consecutive quarters.The Q3 base is still not very high, so Pinduoduo can still maintain a relatively high growth rate in the next quarter. It's still a bit surprising that Pinduoduo has been around for so many years and is still a high-growth company. In the same period, Ali, Tencent, and Meituan were the best at growing at a rate of only 30%, while Pinduoduo had a growth rate of 60% without moving.
By business:
1) Internet marketing and other income:It received 37.93 billion yuan this quarter, an increase of 50.7% over the previous year, accounting for 72.6% of total revenue, and maintained a high growth rate.
2) Revenue from trading services:Mainly, Pinduoduo draws commissions from merchant sales. Pinduoduo's “10 billion subsidy” will draw commissions from merchants. The commission rate for different categories ranges from 1% to 3%. This portion of revenue was 14.35 billion yuan this quarter, an increase of 130.8% over the previous year, indicating that there are more and more businesses, and this portion is growing at the fastest rate.
3) Product sales revenue:It represents Pinduoduo's own business. This portion of revenue has been lost since the beginning of the previous quarter.
Attached is Pinduoduo's revenue data:
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