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Pinduoduo’s 2023 Q1 revenue will be 37.64 billion yuan, an increase of 58% year-on-year, and US stocks will rise by more than 10% before the market

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IT House News on May 26, Pinduoduo today released its financial report for the first quarter of 2023 as of March 31.

According to the financial report, Pinduoduo’s total revenue in the first quarter was 37.6371 billion yuan(approximately US$5.4804 billion), compared with 23.7937 billion yuan in the same period in 202258% increase.

Net profit attributable to Pinduoduo’s ordinary shareholders was 8.1010 billion yuan (about 1.1796 billion U.S. dollars), compared with 2.5995 billion yuan in the same period in 2022212% increase.

Not in accordance with US GAAP (Non-GAAP), the net profit attributable to Pinduoduo’s ordinary shareholders was 10.1264 billion yuan (approximately US$1.4745 billion), compared with the net profit of 4.2004 billion yuan in the same period in 2022141% increase.

As of IT House issued a document,Pinduoduo’s stock price rose more than 10% in the US stock market.

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