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Pinduoduo stock jumps on Q3 earnings

Yahoo Finance Video

Yahoo Finance Live's Rachelle Akuffo discusses the rise in stock for Pinduoduo following third-quarter earnings.

Video Transcript

RACHELLE AKUFFO: Concern over protests in China spreading throughout financial markets in the session, but one company bucking the trend after strong results is agricultural platform, Pinduoduo. Now the group beating forecasts with third quarter revenue growth of 65% on the year to just shy of $5 billion. Revenue from transaction services jumped an eye catching 102% on an annual basis. Now the company has, of course, been a beneficiary of severe lockdowns, as consumers were forced to shop online.