Why Pinduoduo Shares Are Gaining Today - PDD Holdings (NASDAQ:PDD)

Pinduoduo Inc PDD reported first-quarter FY22 revenue growth of 7% year-on-year to $3.75 billion, beating the consensus of $3.05 billion.
Average monthly active users rose 4% Y/Y to 751.3 million.
Active buyers in the twelve months ended March 31, 2022, increased 7% Y/Y to 881.9 million.
Revenues from online marketing services and others rose 29% Y/Y to $2.86 billion.
Revenues from transaction services jumped 91% Y/Y to $882 million.
Revenues from merchandise sales declined 99% Y/Y to $6.9 million.
Pinduoduo posted a non-GAAP operating profit of $580.1 million.
Non-GAAP earnings per ADS of $0.47 beat the consensus of $0.25.
Pinduoduo held $15 billion in cash and equivalents and used $1.43 billion in operating cash flow.
"We remain focused on making long-term investments in agriculture and abide by our philosophy of 'Benefit All,' 'People First,' and 'More Open,'" said Lei Chen, Chair and CEO.
"At this current scale, it is inevitable for us to see slower growth," said Jun Liu, VP of Finance.
Price Action: PDD shares traded higher by 7.32% at $45.00 in the premarket on the last check Friday.
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