Is Pinduoduo Catching Up to Alibaba and JD.com?
Shares of Pinduoduo (NASDAQ: PDD) recently surged after the Chinese e-commerce company's second-quarter numbers smashed analysts' estimates. Its revenue rose 169% annually to RMB 7.29 billion ($1.06 billion), beating expectations by $187 million.
Pinduoduo remains unprofitable, but its adjusted net loss narrowed year over year from RMB 673.4 million to RMB 411.3 million ($59.9 million), or $0.04 per share -- which beat expectations by $0.15. Do those numbers indicate that Pinduoduo is catching up to market leaders Alibaba (NYSE: BABA) and JD.com (NASDAQ: JD)?
Image source: Pinduoduo.
Source Fool.com
