On May 23, Fast Technology reported that Pinduoduo handed over a brilliant report card in the performance report of the first quarter of 2024, and its revenue and net profit increased significantly, It helped its market value surpass that of e-commerce giant Alibaba again.
The financial report shows that Pinduoduo achieved revenue of 86.8 billion yuan in the first quarter, up 131% year on year, and its net profit reached 27.997.8 billion yuan, 246% year-on-year growth 。 Under non US GAAP, the net profit increased by 202% year on year, reaching 30.6018 billion yuan.
The revenue of Pinduoduo's online marketing services and other services increased by 56% year on year, The revenue from trading services increased by 327% year on year, R&D expenses also increased by 16% year on year.
Chen Lei, Chairman and Co CEO of Pinduoduo, said on the financial report conference call, "In the first quarter, we saw peers significantly increase their investment. Pinduoduo welcomes healthy competition, In the face of competition, our starting point is to create value for consumers. "
He believes that consumers have become accustomed to cross platform consumption and will make a choice after comprehensive comparison between different platforms in terms of commodity category, price, service quality and other dimensions.
It also emphasized that in the face of competition, the starting point of Pinduoduo is to create value for consumers. It will continue to deepen the ability to provide more benefits and good services, enrich the high-quality supply of the platform, and optimize the consumer experience.
[End of this article] If you need to reprint, please be sure to indicate the source: Fast Technology
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