Pinduoduo's revenue in the second quarter of 2023 reached 52.28 billion yuan, a year-on-year increase of 66.3%, and net profit increased by 47%

News from this site on August 29, Pinduoduo today released its financial report for the second quarter of 2023 as of June 30: revenue of 52.28 billion yuan (7.2098 billion US dollars), market expectations of 43.679 billion yuan, 31.44 billion in the same period last year Yuan, increased by 66.3% year-on-year.

Operating profit in the second quarter was 127.188 billion yuan ($17.540 billion), an increase of 46% from 86.972 billion yuan in the same quarter of 2022. Non-GAAP operating profit for the quarter was RMB 146.094 billion (USD 20.147 billion), an increase of 39% from RMB 105.415 billion in the same quarter of 2022. Net profit attributable to ordinary shareholders in the second quarter was RMB 131.081 billion (USD 1.8077 billion), an increase of 47%

from RMB 8.8963 billion in the same quarter of 2022. Non-GAAP net income attributable to common shareholders in the second quarter was 15.2694 billion yuan ($2.1057 billion), an increase of 42% from 10.7763 billion yuan in the same quarter of 2022.

The following is the data compiled by this site based on Pinduoduo’s financial report:

Online marketing services and others Revenue reached RMB 37.9328 billion (approximately US$5.2312 billion) in the same quarter of 2022, an increase of 50% compared to RMB 25.2234 billion in the same period last year.

• Transaction service revenue Reached RMB 14.3479 billion (USD 1.9787 billion) during the quarter, an increase of 131% compared to RMB 6.2162 billion in the same period last year.

• In the same quarter of 2023, the company’s total Cost of revenue was RMB 18.6898 billion, equivalent to US$2.5774 billion, an increase of 135% compared with the same quarter last year. The increase was primarily due to increases in fulfillment fees and payment processing fees

• Total operating expenses for the same quarter of 2022 were RMB 20,872.2 million (USD 2,878.4 million), compared with It increased by 41% during the same period last year. The increase was primarily due to an increase in sales and marketing expenses. Sales and marketing expenses increased 55% in the same quarter of 2022 to RMB 17,542.2 million (2,419.2 million yuan). U.S. dollars), primarily due to an increase in spending on promotional and advertising activities It was RMB 2.6114 billion

• "In the past quarter, we observed that consumer demand for multiple product categories continued to increase." Chen Lei, Chairman and Co-CEO of Pinduoduo Group Said, “We have also actively organized a number of promotional activities to activate consumption.”
• In the past second quarter, we continued to invest a lot of resources and increase subsidies to “we will subsidize whatever consumers like.” " method to sincerely give back to platform users. Zhao Jiazhen, executive director and co-CEO of Pinduoduo Group, said: "While consolidating 'multiple benefits', we also continue to improve our 'quality service' capabilities and enhance consumers' trust in the platform."
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