PDD Holdings, owner of Temu and Pinduoduo, reported a 131% YoY revenue growth to $12 billion in Q1, surpassing analyst estimates.
PDD Holdings, owner of Temu and Pinduoduo, reported a 131% YoY revenue growth to $12 billion in Q1, beating analyst estimates of $10.65 billion. Adjusted earnings per ADS increased from CNY6.92 Y/Y to CNY20.72. The company's adjusted operating profit grew 237% Y/Y to $3.95 billion. PDD's shares rose 6% after the report, and it continues to outpace larger rivals Alibaba and Tencent in topline growth.
May 22, 2024
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