PDD's revenue for the third quarter was RMB 99.35 billion, while market expectations were RMB 102.83 billion. PDD's stock fell nearly 16% in pre-market trading:<img src="https://pub.pbkrs.com/uploads/2024/214ac5432261343588c79e56a237e500?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/uploads/2024/214ac5432261343588c79e56a237e500"/>PDD's third quarter 2024 performance overview:<ul><li>Total revenue for the quarter was RMB 99,354.4 million (approximately USD 11,415.79 million), an increase of 44% compared to RMB 68,840.4 million in the same quarter of 2023.</li><li>Operating profit for the quarter was RMB 24,292.5 million (approximately USD 3,461.6 million), an increase of 46% compared to RMB 16,656.0 million in the same quarter of 2023. Non-GAAP operating profit was RMB 26,770.5 million (approximately USD 3,814.8 million), an increase of 48% compared to RMB 18,125.8 million in the same quarter of 2023.</li><li>Net profit attributable to ordinary shareholders for the quarter was RMB 24,980.7 million (approximately USD 3,559.7 million), an increase of 61% compared to RMB 15,537.1 million in the same quarter of 2023. Non-GAAP net profit attributable to ordinary shareholders was RMB 27,458.7 million (approximately USD 3,912.8 million), an increase of 61% compared to RMB 17,027.1 million in the same quarter of 2023.</li></ul>&#34;In the past quarter, our focus has remained on driving high-quality development of the platform,&#34; said Chen Lei, Chairman and Co-CEO of PDD Holdings. &#34;We are committed to continuously and patiently investing in our platform ecosystem to achieve significant long-term results.&#34;&#34;In the third quarter, we increased our investment in the platform ecosystem through merchant support policies and trust and safety updates,&#34; said Zhao Jiajun, Executive Director and Co-CEO of PDD Holdings. &#34;High-quality merchants are encouraged to further enhance their products and services, thereby promoting a virtuous cycle.&#34;&#34;Our revenue growth has further slowed quarter-on-quarter amid intensified competition and ongoing external challenges,&#34; said Liu Jun, Vice President of Finance at PDD Holdings. &#34;In pursuing high-quality development, we will continue to steadfastly invest in building a healthy and sustainable ecosystem, which will be reflected in our performance.&#34;<img src="https://pub.pbkrs.com/uploads/2024/1525dd953aa382de726a22f9e3506ce1?x-oss-process=style/lg" alt="" original-src="https://pub.pbkrs.com/uploads/2024/1525dd953aa382de726a22f9e3506ce1"/>

PDD Vice President: Revenue growth further slowed quarter-on-quarter amid intensified competition and ongoing external challenges

- Pinduoduo reported third-quarter revenue of 99.35 billion RMB, falling short of market expectations of 102.83 billion RMB, leading to a nearly 16% pre-market drop.  
- The company experienced a 44% year-over-year revenue increase, with net profit attributable to ordinary shareholders rising 61% to 24.98 billion RMB.  
- Executives emphasized a focus on high-quality development and continued investment in the platform's ecosystem despite intensified competition and external challenges.

Pre-market once plummeted nearly 16%! PDD: Revenue growth has further slowed down on a quarter-on-quarter basis