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- PDD Holdings shares skyrocket as earnings top estimates
- Home
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- PDD Holdings shares skyrocket as earnings top estimates
- Founded: 2015
- Headquarters: Shanghai, China
- Number of employees: 12,992 (2022)
- Industry: Internet, Agriculture
- Key people: Lei Chen
- 1 month: +37.67%
- 3 months: +49.78%
- Year-to-date: +71.21%
- 1 year: +78.02%
- HSBC: $125
- Bank of America: $112
- Credit Suisse: $140
- Barclays: $115
- JP Morgan: $120
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & analysisNews & analysisPDD Holdings Inc. (NASDAQ: PDD) reported Q3 financial results before the market open in the US on Tuesday. The Chinese company beat both revenue and earnings per share (EPS) estimates, sending the stock higher.
Company overview
The results
PDD reported revenue of $7.207 billion for the quarter (up by 94% year-over-year), well above the $5.982 billion expected.
EPS reported at $1.28 per share vs. $1.007 per share estimate.
CEO commentary
“We are dedicated to generating value through innovations, which forms the foundation of our high-quality development,” Lei Chen, CEO of PDD Holdings said in the Q3 earnings report press release.
“We continued to invest decisively in areas such as agritech, supply chain technology, and core R&D capabilities. Through these efforts, we aim to create our unique value” Chen highlighted where the company is looking to improve moving forward.
Stock reaction
The latest results had a huge impact on the stock. Shares were up by over 18% on Tuesday at $139.84 a share – the highest level since March 2021.
Stock performance
PDD stock price targets
PDD Holdings is the 58 th largest company in the world with a market cap of $185.31 billion.
You can trade PDD Holdings Inc. (NASDAQ: PDD) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
GO Markets now offers pre-market and after-market trading on popular US Share CFDs.
Trade the pre-market session: 4:00am to 9:30am, normal session, and after-market session: 4:00pm to 8:00pm, Eastern Standard Time.
Why trade during extended hours?
Sources: PDD Holdings Inc., TradingView, MarketWatch, TipRanks, CompaniesMarketCap, Macrotrends
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