主要观点：25Q3业绩：利润超预期，费用有所改善1）整体表现：25Q3，拼多多收入为1083 亿元(yoy+9%)，基本inline；公司销售费用率、管理费用率和研发费用率分别录得28.0%/1.6%/4.0%， 同比-2.7pct/-0.2pct/+0.9pct ； 本季度， 拼多多Non-GAAP 归母净利润达到314 亿元(yoy+14%)，高于彭博一致性预期24.9%；2）分部业务方面：...
Source Link主要观点：25Q3业绩：利润超预期，费用有所改善1）整体表现：25Q3，拼多多收入为1083 亿元(yoy+9%)，基本inline；公司销售费用率、管理费用率和研发费用率分别录得28.0%/1.6%/4.0%， 同比-2.7pct/-0.2pct/+0.9pct ； 本季度， 拼多多Non-GAAP 归母净利润达到314 亿元(yoy+14%)，高于彭博一致性预期24.9%；2）分部业务方面：...
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