Combined with Pinduoduo's business data, Bloomberg estimated country code philippines mobile that this part of revenue would be 50.49 billion yuan, while the Q2 financial report showed that the revenue was 49.1159 billion yuan (about 6.7586 billion US dollars), which was more than 1 billion yuan lower than expected and only increased by 29% year-on-year. In the first quarter, Pinduoduo's online marketing services and other revenues were 42.46 billion yuan, a year-on-year increase of 56%, but the growth rate dropped by nearly half in the second quarter.
In the first quarter, transaction service revenue increased by 327% year-on-year to 44.36 billion yuan, surpassing online marketing business to become Pinduoduo's largest source of revenue. In the second quarter, there was a revenue gap of 2.1 billion yuan from Bloomberg's previous forecast of 50.02 billion yuan, with revenue of 47.9437 billion yuan (about 6.5973 billion U.S. dollars) this quarter, which was not only 15 percentage points lower than expected year-on-year, but also 84 percentage points lower than the previous quarter.
Transaction service revenue refers to commission income. Every time a merchant completes a transaction, Pinduoduo will charge a commission based on a percentage of the transaction amount. The commission mainly comes from Pinduoduo’s domestic main site, Duoduo Maicai and Temu.