Just now. $PDD Holdings (PDD.US)$ The 2024 Q2 financial report has been released, and this time the financial data is finally different from before. The previous financial data can still only be described as explosive, surpassing expectations for numerous consecutive times, with both revenue and net income exceeding expectations by nearly 10 billion! First, let's look at the gap between the actual value of the Q4 financial report and the forecasted value by institutions, which can be described as outrageous, with institutions underestimating revenue by nearly 10 billion!
Let's take a look at the institutions' forecasts for this time, as most of the financial report this time surprisingly missed expectations.
Of course, the reason for the financial report missing expectations is not because Pdd Holdings' Q2 financial report performed poorly, but because Pdd Holdings had already raised institutions' expectations to the maximum. Falling short of these expectations is like pouring cold water on the institutions. In addition, Pdd Holdings' growth rate is simply abnormal, a pace that definitely cannot be sustained. Now everyone is starting to question the sustainability of this growth rate! Let's now take a look at the specific financial report data!
I. Overall financial data
1. Revenue
Pdd Holdings' Q2 revenue was 90.06 billion, a year-on-year increase of 85.7%, mainly driven by TEMU. Although this growth rate is still quite terrifying, it is much lower than the growth rates of the previous two quarters, especially the growth rate of the main site is only 29%, far below the previous growth rate.
From the perspective of business segments:
1) Network marketing and other income:Received 49.22 billion yuan this quarter, an increase of 29.7% year-on-year, accounting for a decrease of 50.7% of total revenue...