拼多多公布3Q24 业绩：总收入994 亿元，同增44.3%，低于Visible Alpha（VA）一致预期的1,016 亿元；非GAAP 归母净利润275 亿元，对应非GAAP 净利率27.6%，同比提升2.9pp，逊于VA 一致预期的29.6%，我们认为主要反映出公司在商户扶持上的投入力度强于市场预期。展望后续，我们预计拼多多在商户扶持及供给拓宽上或将持续投入，以寻找到新的驱动力支撑其GMV ...
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