---
title: "Tonight's most significant news is the earnings report of $PDD(PDD.US). I wonder what's ur thoughts?"
description: "Tonight's most significant news is the earnings report of $PDD(PDD.US). I wonder what's ur thoughts?After all, PDD, which has always stood tall, exploded with a "big thunder" last quarter, and"
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/28233815.md"
published_at: "2025-03-20T07:35:24.000Z"
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

# Tonight's most significant news is the earnings report of $PDD(PDD.US). I wonder what's ur thoughts?

Tonight's most significant news is the earnings report of $PDD(PDD.US). I wonder what's ur thoughts?

After all, PDD, which has always stood tall, exploded with a "big thunder" last quarter, and its stock price has fluctuated up and down, even bringing Huang Zheng to the position of the richest person for a time before falling back down.

With just a few hours left until the earnings report is released, let's review last quarter's earnings report:

1\. Total revenue was approximately 99.4 billion RMB, compared to Bloomberg's consensus expectation of 102.8 billion, falling short by a full 3 billion;

2\. Gross margin was 60%, a drop of 5.3 percentage points from the previous quarter;

3\. Advertising revenue was 49.4 billion, a year-on-year increase of 24%, which can be considered a stroke of luck as it did not explode, basically in line with expectations;

Last quarter, we mentioned that both revenue and profit were below expectations by a few billion, which can indeed be described as "poor." It can even be said that Pinduoduo is becoming more and more like JD and Alibaba, which have neither revenue nor profit growth. From a mid-term perspective, Dolphin Research holds a cautious attitude towards the entire e-commerce industry, but from a long-term perspective, Pinduoduo still has undeniable advantages in terms of management's decisiveness, overall execution, and operational efficiency. We look forward to seeing what kind of report Pinduoduo will deliver tonight.

### Related Stocks

- [PDD.US - PDD](https://longbridge.com/en/quote/PDD.US.md)
- [89618.HK - JD-SWR](https://longbridge.com/en/quote/89618.HK.md)
- [09618.HK - JD-SW](https://longbridge.com/en/quote/09618.HK.md)
- [JD.US - JD.com](https://longbridge.com/en/quote/JD.US.md)

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.