Pinduoduo beats revenue estimates as online shopping demand soars

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China’s Pinduoduo beat first-quarter revenue estimates on Friday as more people shopped on its e-commerce platform during coronavirus lockdowns that have seen many bricks-and-mortar outlets closed.Stay-at-home orders have boosted demand for online shopping as people stock up on groceries and food items from home and sellers too turn to online platforms to run down inventories.The growth rate of active buyers in the 12 months ended March remained robust, reaching 628 million, representing an…

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