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PDD Holdings, parent of Temu, sees profits nearly halve, missing revenue forecasts and facing stock drop.
PDD Holdings, the parent company of online shopping platform Temu, reported a significant drop in profits, with earnings nearly halving.
The company also missed Wall Street's revenue expectations, showing the slowest revenue growth in three years.
PDD's stock fell 18% following the weak earnings report, facing challenges both domestically and internationally, possibly exacerbated by trade tariffs.
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PDD Holdings, la matriz de Temu, ve que las ganancias casi se han reducido a la mitad, faltan las previsiones de ingresos y se enfrentan a una caída de las acciones.