todays $PDD Holdings (PDD.US)$ The 2022 Q4 financial report was announced. Looking at the overall situation,Q4 Pinduoduo's revenue was 30.97 billion yuan, up 46% year on year, lower than the forecast of 41.95 billion yuan; net profit was 9.45 billion yuan, up 42.81% year on year, lower than market expectations of 9.75 billion yuan; adjusted net profit of 12.17 billion yuan.
Judging from the data alone, this growth and this profit are indeed very good. You need to know that Pinduoduo has always given us the impression that Pinduoduo has always had low prices and heavily subsidized consumers, and can actually make so much money, and which Internet company Q4 is still growing at such a high rate? However, market expectations were too high. Revenue and net profit both fell short of market expectations, and after the earnings report was released, there was a sharp decline before the market. Next, let's take a look at Pinduoduo's financial data in its entirety.
I. Overall financial data
1. revenue
Q4 Pinduoduo's revenue was 39.82 billion yuan, an increase of 46.2% over the previous year, and an increase of 13.1% over the previous month. It can be seen that starting with Q2, Pinduoduo resumed a high growth rate of 30% again. The Q3 growth rate directly reached 65%. However, Q4 was the traditional peak season, the Q4 growth rate fell to 46%, and the 2022 Q1 base was very low, so it is estimated that Pinduoduo will return to a 60% growth rate in Q1 in '23.
Looking at it by business:
1) Internet marketing and other revenue: This quarter received 30.97 billion yuan, an increase of 38% over the previous year, accounting for 78% of total revenue. This part is Pinduoduo's basic market. The growth rate of this part...