Last night $PDD Holdings (PDD.US)$ The 2023 Q4 financial report was announced. The data can still only be described as explosive, exceeding expectations N times in a row. Since Temu's business data is difficult to predict, the data predicted by institutions is basically far lower than the actual value. The revenue market predicts 9 billion dollars less, especially transaction service revenue of 6 billion dollars. This part of the underforecast is mainly Temu's revenue. The financial data is no longer described in words. Let's take a look directly at the picture below!
Pinduoduo's financial report doesn't need to be described in words anymore. The last few quarters can be described as explosive. Although Pinduoduo has always had quite a few questionable voices, the financial data can basically dispel these questions. My views on Pinduoduo's historical financial reports have not changed until now. If you are interested, you can read the interpretation of Pinduoduo's historical financial reports I wrote earlier at the end of the article. If you look directly at the data, it's almost the same!
I. Overall financial data
1. Revenue — Temu and Duoduo Grocery Shopping Explosion
Q4 Pinduoduo's revenue was 88.81 billion yuan, up 12.2% year on year. After Temu gained strength, the revenue growth rate exceeded 93% for 2 consecutive quarters, as a result of the simultaneous growth of the main site and Temu. In the same period, Ali and Tencent had almost single-digit growth rates, so there is nothing to be picky about in Pinduoduo's financial reports.
Looking at it by business:
1) Online marketing and other revenue:The quarter received 48.68 billion yuan, an increase of 57.2% over the previous year, accounting for...