RTTNews | Mar 17, 2021 10:02AM EDT

10:02 Wednesday, March 17, 2021 (RTTNews.com) - Shares of Chinese agriculture and interactive commerce platform Pinduoduo Inc. (PDD) are falling more than 8% Wednesday morning following fourth-quarter results.

The company reported net loss of RMB1.376 billion or $210.9 million, compared with RMB1.751 billion in the same quarter a year ago.

Net loss per ADS was RMB1.13 or $0.17, compared with RMB1.52 last year.

Excluding items, adjusted loss per ADS of $0.02 missed the average estimate of analysts polled by Thomson Reuters at $0.01 earnings per share.

Revenue for quarter increased 146% year-over-year to $4.068 billion. The consensus estimate was for $2.96 billion.

PDD, currently at $147.33 has been trading in the range of $31- $212.60 in the last one year.

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