Pinduoduo (PDD) Misses Q3 EPS by 20c, Revenues Miss
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/22/2026
- Wall St futures muted as investors monitor US-Iran negotiations
- Oil falls after US-Iran talks signal easing supply risks
- Intel soars after Trump says Apple agreed to work with chipmaker on US production
- Apple CEO warns price hikes 'unavoidable' as chip costs bite - WSJ
- Wall Street scrambles to lift Micron price targets ahead of earnings
- Zelenskiy: best guarantee of Europe's future is fast-track EU membership for Ukraine
- Needham Starts NeoVolta (NEOV) at Buy
- CoreWeave trains DeepSeek-V3 in two minutes in MLPerf benchmark
- Companies to add 40 million barrels of oil to US SPR after Iran war ends, energy secretary says
- China makes small dent in deflation battle as supply-demand imbalance persists
China's Pinduoduo suffers $11 billion slump in value after big loss
November 20, 2019 5:31 AM ESTBy Akanksha Rana and Sophie Yu
(Reuters) - Chinese e-commerce firm Pinduoduo posted a much wider-than-expected quarterly loss as it fought bigger rivals with heavy subsidies, driving its shares down by nearly a quarter and wiping almost $11 billion off its value on Wednesday.
Pinduoduo's operating costs more than doubled in the third quarter ended Sept. 30 as the company pursued a strategy of wooing wealthier consumers in big cities while maintaining its lead in less urban towns.
That has pitched the four-year old startup against deep-pocketed incumbents such as Alibaba and JD.com, who are aggressively expanding in rural... More
