Pinduoduo (NASDAQ:PDD) shares jumped more than 17% intra-day today following the company’s remarkable performance in the second quarter, which greatly exceeded expectations.
During the quarter, Pinduoduo reported an EPS of 10.47 yuan per share, surpassing the Street projection by 3.17 yuan. Furthermore, the company’s revenue for the quarter totaled 52.28 billion yuan, significantly outpacing the Street estimate of 43.36 billion yuan.
PDD’s earnings from online marketing services and other sources reached 37.93 billion yuan, surpassing the expected 32.07 billion yuan. Additionally, the revenue generated from transaction services amounted to 14.35 billion yuan, exceeding the consensus forecast of 11.14 billion yuan.