Temu owner PDD misses quarterly revenue and profit estimates as consumers struggle [Globe and Mail, The (Toronto, Canada)]
PDD Holdings Inc. - American Depositary Shares (PDD)
Company Research
Source: Globe and Mail, The
decrease fell short of market estimates for third-quarter revenue and profit on Thursday, as its low prices did not persuade cost-conscious consumers to spend as much as expected on its platforms. U.S.-listed shares of PDD, which runs the Pinduoduo online shopping site in China and Temu internationally, were down more than 10 per cent in pre-market trading. Higher unemployment among Chinese youth and a property sector crisis have taken a toll on consumer confidence, holding back sales at Pinduoduo. Competitors in China, Alibaba and JD.com, also reported tepid sales growth for their September quarters. While Pinduoduo has benefited from its low-cost focus, competitive pressure has been increasing with rivals ramping up promotions and discounts, sparking a price war. “Our topline growth further moderated quarter-on-quarter amid intensified competition and ongoing external challenges,” said Jun Liu, VP of Finance at PDD. PDD's revenue jumped 44 per cent to 99.35 billion yuan
Show less
Read more
Impact Snapshot
Event Time:
PDD
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
PDD alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
PDD alerts
High impacting PDD Holdings Inc. - American Depositary Shares news events
Weekly update
A roundup of the hottest topics
PDD
News
- China's Instagram-like Xiaohongshu making inroads with e-commerce sales [Yahoo! Finance]Yahoo! Finance
- China's Instagram-like Xiaohongshu making inroads with e-commerce sales [Yahoo! Finance Canada]Yahoo! Finance Canada
- China Watchdog Orders Temu-Owner PDD to Fix Refunds Policy [Yahoo! Finance Canada]Yahoo! Finance Canada
- China Watchdog Orders Temu-Owner PDD to Fix Refunds Policy [Yahoo! Finance Canada]Yahoo! Finance Canada
- Neil Shen Leads Forbes China List Of Top VC Investors For Seventh Year [Forbes]Forbes
PDD
Earnings
- 11/21/24 - Beat
PDD
Sec Filings
- 12/20/24 - Form 6-K
- 12/9/24 - Form 144
- 11/27/24 - Form 6-K
- PDD's page on the SEC website