Technology

E-commerce firm Pinduoduo posts bigger quarterly loss as operating costs surge




Chinese e-commerce services provider Pinduoduo reported a bigger-than-expected quarterly loss on Wednesday because of higher operating expenses, sending the company’s shares down 13 per cent before the opening bell in the United States.The Nasdaq-listed firm’s net loss widened to 2.3 billion yuan (US$327 million) in the quarter ended September 30, from 1.1 billion yuan a year earlier. Revenue rose 123 per cent to 7.5 billion yuan. Operating expenses of Pinduoduo more than doubled to 8.5 billion…



READ SOURCE

This website uses cookies. By continuing to use this site, you accept our use of cookies.