Pinduoduo beats by RMB2.81, misses on revs
- Reports Q2 (Jun) earnings of RMB 23.24 per share, RMB 2.81 better than the FactSet Consensus of RMB 20.43; revenues rose 85.7% year/year to RMB 97.06 bln vs the RMB 100.17 bln FactSet Consensus.
- Co's commentary on outlook: "In the past quarter, our revenue growth rate slowed quarter-on quarter. Looking ahead, revenue growth will inevitably face pressure due to intensified competition and external challenges. Profitability will also likely to be impacted as we continue to invest resolutely."
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