shares of pinduoduo inc pdd shot up 74 in premarket trading monday after the chinabased company that connects agricultural producers with consumers reported secondquarter profit that more than tripled and revenue that rose well above expectations citing a recovery in consumer sentiment net income grew to rmb890 billion 133 billion or earnings of rmb622 per american depositary share ads from rmb241 billion or rmb169 per ads in the yearago period excluding nonrecurring items adjusted net income was rmb1078 billion the factset consensus for earnings per ads was rmb296 revenue climbed 364 to rmb3144 billion 469 billion beating the factset consensus of rmb2393 billion revenue from online marketing services jumped 39 to rmb2517 billion and revenue from transaction services soared 107 to rmb622 billion while revenue from merchandise sales dropped 97 to rmb507 million cost of revenue rose just 08 to boost gross margin to 747 from 657 we saw a recovery in consumer sentiment in the second quarter especially during the 618 shopping festival a reflection of the resilience of overall consumption said chief executive lei chen the stock has rallied 192 over the past three months through friday while the ishares msci china etf mchi has ticked up 03 and the sp 500 spx has slipped 24