Caixin
Nov 29, 2022 08:32 PM
TECH INSIDER

Tech Insider: Tesla’s Big Recall, Pinduoduo’s Earnings Beat Expectations

Social e-commerce company Pinduoduo's stock popped after it reported a six-fold year-on-year increase of its third quarter net income. Photo: VCG
Social e-commerce company Pinduoduo's stock popped after it reported a six-fold year-on-year increase of its third quarter net income. Photo: VCG

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Pinduoduo beats expectations with robust growth

Chinese social e-commerce company Pinduoduo Inc. said on Monday that its third quarter net income grew more than six-fold year-on-year to 10.6 billion yuan ($1.5 billion), while total revenue grew 65% to 35.5 billion yuan.

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