Just now $PDD Holdings (PDD.US)$ The 2023 Q3 financial report was announced,The data can still only be described as exploding. It has exceeded expectations N times in a row. It seems that the market and consumers don't understand Pinduoduo. Each time, the predicted data is far below the actual value. For example, the revenue market actually predicted 14 billion dollars less. In particular, the transaction service revenue forecast was 12.5 billion dollars less. In other words, the market has greatly underestimated the revenue from buying more groceries and overseas temu.The financial data is no longer described in words; just take a look at the picture below!
Pinduoduo's earnings data for the past few quarters have been very stable. Basically, they have all exceeded expectations, and Pinduoduo's business is extremely simple. Unlike Alibaba's “1+6+N”, which reports revenue from tens of billions of dollars and N subsidiaries, I estimate that Ali's finances are the busiest in the world. Every time he compiles financial data, Ali spends at least 1+6+N times that of Pinduoduo. Pinduoduo's business and data are simple and clear. I think this also reflects the efficiency of enterprise management to a certain extent. Pinduoduo feels that there is no need to describe it in words anymore. If you look directly at the data, it's about the same. My opinion on Pinduoduo's historical earnings report has not changed until now. Interested friends can read the interpretation of Pinduoduo's historical earnings report I wrote earlier at the end of the article.
I. Overall financial data
1. Revenue — Temu and Duoduo grocery shopping exploded
Q3 Pinduoduo's revenue was 68.84 billion yuan, up 93.9% year on year, with a growth rate of 30% + for 6 consecutive quarters,...