Pinduoduo misses quarterly revenue estimates

pinduoduo misses quarterly revenue estimates

Sumary of Pinduoduo misses quarterly revenue estimates:

  • :Chinese e-commerce platform Pinduoduo Inc posted quarterly revenue that missed market estimates on Friday, hurt by stiff competition from rivals Alibaba and JD.
  • Pinduoduo’s results come as Chinese authorities increasingly crack down on large tech companies including Alibaba and Tencent to keep a check on monopolistic practices.

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