the uslisted shares of pinduoduo inc pdd shot up 101 toward a oneyear high in premarket trading monday after the chinabased mobile marketplace reported thirdquarter profit and revenue that rose well above forecasts as strength in online marketing and transaction services offset some weakness in merchandise sales net income climbed to rmb1059 billion 149 billion or rmb734 a share from rmb164 billion or rmb115 a share in the yearago period excluding nonrecurring items adjusted earnings per american depositary share ads of rmb862 beat the factset consensus of rmb479 revenue jumped 651 to rmb3550 billion 499 billion well above the factset consensus of rmb3071 billion revenue from online marketing services rose 58 to rmb2843 billion and from transaction services soared 102 to rmb702 billion while merchandise sales revenue fell 31 to rmb564 million cost of revenue rose much less than revenue growth up just 13 to rmb656 billion the stock has rallied 128 year to date through friday while the ishares china largecap etf fxi has tumbled 308 and the sp 500 spx has dropped 155