Taobao's Challenger Pinduoduo Beats Quarterly Revenue Estimates

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Image Source: Visual ChinaBEIJING, May 27 (TMTPOST) — Chinese e-commerce giant Taobao’s challenger Pinduoduo beat quarterly revenue estimates in Q1 2022 with the revenue growing 7% year-on-year to 23.79 billion yuan, exceeding the estimates of 20.61 billion yuan, according to the company’s Q1 earnings report released on Friday.Pinduduo’s shares rose by 9% pre-trading.Under U.S. GAAP, the compa