Chinese e-commerce platform PDD Holdings Inc. (formerly Pinduoduo Inc.) increased its net profit by 17% in the third quarter, revenue by 9%.
According to a press release from the marketplace, net profit for the July-September period was 29.33 billion yuan ($4.12 billion), up from 24.98 billion yuan in the same period last year. On a per American depositary share (ADS) basis, it climbed to 19.70 yuan from 16.91 yuan.
Adjusted profit reached 31.38 billion yuan from 27.46 billion yuan a year earlier.
Revenue rose to 108.28 billion yuan from 99.35 billion yuan.
Analysts on average had forecast revenue of 108.4 billion yuan, according to LSEG.
The Chinese company’s ADSs are down 2.7 per cent in earlier trading on Tuesday. They have jumped 33 per cent since the start of this year, while the Nasdaq Composite stock index has added less than 18 per cent.