Pinduoduo shares tumbled nearly 11% in premarket trading after announcing its financial results for Q3.

Pinduoduo shares tumbled nearly 11% in premarket trading after announcing its financial results for Q3.

Third Quarter 2021 Highlights

• Total revenues in the quarter were RMB21,505.8 million, an increase of 51% from RMB14,209.8 million in the same quarter of 2020.
• Average monthly active users in the quarter was 741.5 million, an increase of 15% from 643.4 million in the same quarter of 2020.
• Active buyers in the twelve-month period ended September 30, 2021 was 867.3 million, an increase of 19% from 731.3 million in the twelve-month period ended September 30, 2020.
• Operating profit in the quarter was RMB2,139.3 million, compared with operating loss of RMB1,295.7 million in the same quarter of 2020.Non-GAAP4 operating profit in the quarter was RMB3,260.7 million (US$506.1 million), compared with non-GAAP operating loss of RMB339.8 million in the same quarter of 2020.
• Net income attributable to ordinary shareholders in the quarter was RMB1,640.0 million, compared with net loss of RMB784.7 million in the same quarter of 2020.Non-GAAP net income attributable to ordinary shareholders in the quarter was RMB3,150.2 million (US$488.9 million), compared with RMB466.4 million in the same quarter of 2020.

For the third quarter, the Zacks Consensus Estimate for sales is pegged at $4.31 billion.