--FILE--un netizen utilizza l'applicazione mobile cinese di discount online Pinduoduo Inc sul suo smartphone in Ji'nan city, est della Cina di provincia di Shandong, 11
--FILE--A netizen uses the mobile app of Chinese online discounter Pinduoduo Inc on his smartphone in Ji'nan city, east China's Shandong province, 11 November 2018. The hugely contentious online discounter Pinduoduo Inc reported strong growth in the third fiscal quarter, sweeping away many of the market doubts that have been lingering since its initial public offering on the Nasdaq. According to unaudited fiscal results released on Wednesday (21 November 2018), Pinduoduo's total revenue reached $491 million by the end of the third quarter that ended on Sept 30, up 697 percent year-on-year. Its gross merchandize volume surged 386 percent from a year earlier to reach $50.2 billion. The number of average monthly active users in the third quarter was 231.7 million, up 226 percent year-on-year. But it should be noted that the company's reported loss in the third quarter was $90.1 million, while the figure was around $30 million during the same period last year. Huang Zheng, chairman and CEO of Pinduoduo, defined the company's third quarter growth as "strong and sustained". Its unique and fun shopping experience with value-for-money products continued to gain traction among consumers, he said. Regarding the expected net loss, Pinduoduo Vice-President of Finance Xu Tian said that the company still "generated positive operating cash flow for the third consecutive quarter this fiscal year", which indicated Pinduoduo's ability to manage its net working capital efficiently.
