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PDD / Pinduoduo stock jumps toward a 1-year high after big profit and revenue beats

The U.S.-listed shares of Pinduoduo Inc. PDD, -1.44% shot up 10.1% toward a one-year high in premarket trading Monday, after the China-based mobile marketplace reported third-quarter profit and revenue that rose well above forecasts, as strength in online marketing and transaction services offset some weakness in merchandise sales. Net income climbed to RMB10.59 billion ($1.49 billion), or RMB7.34 a share, from RMB1.64 billion, or RMB1.15 a share, in the year-ago period. Read More

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Posted: Nov 28 2022, 06:47

Author Name: Market Watch

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