Phoenix network science and technology news on November 26, Pinduoduo released the third quarter of 2021 financial results. According to the financial results, by September 30, 2021, Pinduoduo's revenue in the third quarter was 21.5058 billion yuan, up 51% compared with the same period last year, less than the market expectation of 26.5 billion yuan; Under American GAAP, marketing expenses amounted to 1,00506 million yuan, a decrease of 3% quarter-on-quarter, showing a downward trend for three consecutive quarters.
Pinduoduo (PDD.O) U.S. shares fell more than 12 percent in premarket trading as of press time.
In the third quarter, Pinduoduo further increased its investment in technology research and development. Under GAAP, the platform's R&D expenses for the quarter were RMB 2,422.4 billion, up 34% from the same period last year, setting a new high for r&d investment. Meanwhile, according to pinduoduo's annual report, about 60% of the company's employees are r&d personnel.