Pinduoduo Inc. (PDD) declined in the pre-market after announcing the date for the fourth quarter and fiscal 2021 results. PDD values at $32.13, losing more than 10% compared to Friday’s closing price. The stock closed at $35.76 at the end of the last trading session. The stock volume traded in the previous trading session was around 8.32 million shares. The current market cap of the company is about $40.27 billion.
PDD to announce Fiscal 2021 results next week
Pinduoduo Inc. (PDD) is a China-based mobile-only marketplace that is a bridge between millions of agricultural producers and consumers across China. The company’s vision is to bring businesses and consumers into the digital economy so that maximum people can benefit from the thriving productivity and expand into new markets.
The company announced in a press release that it would report its unaudited fourth quarter and fiscal 2021 results on March 21, 2022, before the market opens on Monday. The company’s management will hold the conference at 7:30 AM US Eastern Time on March 21, 2022.
PDD: Q3 Key Financials
- Pinduoduo Inc. (PDD) reported RMB21.5 billion ($3.3 billion) revenue, up 51% from RMB14.2 billion in the same period last year. Revenues from internet marketing services accounted for the majority of the increase.
- PDD announced net income attributable to ordinary shareholders in the third quarter was RMB1.6 billion ($254.5 million), compared to RMB784.7 million in the same quarter of 2020.
- Basic and diluted earnings per ADS for PDD were RMB1.31 ($0.20) and RMB1.15 ($0.18) in the 3rd quarter, respectively, compared to basic and diluted net losses per ADS RMB0.66 in the same quarter last year.
Conclusion
The company reported a good number s in the previous quarter, but this fourth quarter was full of challenges like inflation and omicron causing supply chain disruptions. Due to this, investors might be skeptical about the fourth-quarter results, and the stock is declining in the pre-market.
