$Pinduoduo(PDD.US)$, was incorporated in 2015, through its subsidiaries, operates an e-commerce platform in China, today announced its unaudited financial results for the first quarter ended March 31, 2021.
Pinduoduo Q1 Non-GAAP EPS of -$0.23 beats by $0.15, GAAP EPS of -$0.36 beats by $0.12. Revenue of $3.38B beats by $180M.
First-quarter 2021 review
Revenues from online marketing services and others were RMB14,111.5 million (US$2,153.8 million), an increase of 157% from RMB5,492.3 million in the same quarter of 2020.
Revenues from transaction services were RMB2,931.5 million (US$447.4 million), an increase of 180% from RMB1,048.8 million in the same quarter of 2020.
Revenues from merchandise sales were RMB5,124.1 million (US$782.1 million), an increase of RMB5,124.1 million from nil in the same quarter of 2020.
First-quarter 2021 highlights
Total revenues in the quarter were RMB22,167.1 million (US$13,383.4 million), an increase of 239% from RMB6,541.1 million in the same quarter of 2020.
Average monthly active users in the quarter was 724.6 million, an increase of 49% from 487.4 million in the same quarter of 2020.
Active buyers in the twelve-month period ended March 31, 2021 was 823.8 million, an increase of 31% from 628.1 million in the twelve-month period ended March 31, 2020.
Operating loss in the quarter was RMB4,147.0 million (US$633.0 million), compared with operating loss of RMB4,397.2 million in the same quarter of 2020. Non-GAAP operating loss in the quarter was RMB3,174.1 million (US$484.5 million), compared with operating loss of RMB3,587.9 million in the same quarter of 2020.
Net loss attributable to ordinary shareholders in the quarter was RMB2,905.4 million (US$ 443.5 million), compared with RMB4,119.3 million in the same quarter of 2020. Non-GAAP net loss attributable to ordinary shareholders in the quarter was RMB1,890.3 million (US$288.5 million), compared with RMB3,169.6 million in the same quarter of 2020.
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Pinduoduo Announces First Quarter 2021 Unaudited Financial Results
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