Pinduoduo Inc (NASDAQ: PDD) stock lost over 3.8% in the pre market session on September 12th, 2018 (as of 7:27 AM GMT-4; Source: Google finance) after generating an outstanding performance on 12th September, 2018 delivering over 19.4% returns.
The company is the second quarter of FY 18 has delivered 2489% rise in the revenue RMB2,709.0 million (US$409.4 million). The increases were primarily due to an increase in revenues from online marketing services. Revenues from online marketing services were RMB2,371.0 million (US$358.3 million), a significant increase from RMB32.1 million in the same quarter of 2017, and an increase of 114% sequentially from RMB1,108.1 million in the previous quarter. Revenues from Commission fees were RMB338.1 million (US$51.1 million), an increase of 366% from RMB72.5 million in the same quarter of 2017, and an increase of 22% sequentially from RMB276.5 million in the previous quarter.
GMV in the twelve-month period ended June 30, 2018 was RMB262.1 billion (US$2 39.6 billion), an increase of 583% from RMB38.4 billion in the twelve-month period ended June 30, 2017.
Moreover, the Average monthly active users in the third quarter were 195.0 million, an increase of 495% from 32.8 million in the same quarter of 2017. Active buyers in the twelve-month period ended June 30, 2018 were 343.6 million, an increase of 245% from 99.7 million in the twelve-month period ended June 30, 2017. Annual spending per active buyer in the twelve-month period ended June 30, 2018 was RMB762.8(US$115.3), an increase of 98% from RMB385.0 in the twelve-month period ended June 30, 2017. The company has posted the Non-GAAP net loss attributable to ordinary shareholders of RMB673.4 million (US$101.8 million), compared with RMB106.7 million in the same quarter of 2017. Non-GAAP operating loss is of RMB815.7 million (US$123.3 million), compared with RMB119.9 million in the same quarter of 2017.
Additionally, Total costs of revenues were RMB387.8 million (US$58.6 million), an increase of 260% from RMB107.6 million in the same quarter of 2017. Total operating expenses were RMB8,957.4 million (US$1,353.7 million), compared with RMB119.8 million in the same quarter of 2017. Sales and marketing expenses were RMB2,970.7 million (US$448.9 million), a significant increase from RMB88.9 million in the same quarter of 2017, mainly due to an increase in branding campaigns and online and offline advertisement and promotions. General and administrative expenses were RMB5,800.7 million (US$876.6 million), a significant increase from RMB6.0 million in the same quarter of 2017, primarily due to an increase in headcount and share-based compensation expenses.