Temu-owner PDD misses market estimates for Q3 revenue on weak consumer spending [Yahoo! Finance]
PDD Holdings Inc. - American Depositary Shares (PDD)
Company Research
Source: Yahoo! Finance
PDD's U.S.-listed shares fell more than 14% in premarket trading. Higher unemployment rate among youth and a property sector crisis have taken a toll on consumer confidence, knocking sales at Pinduoduo, PDD's domestic online shopping site, while e-commerce majors Alibaba and JD.com have also reported tepid quarterly sales growth. While Pinduoduo has benefited from its low-cost focus, competitive pressure has been increasing with rivals ramping up their own promotions and discounts, resulting in a price war. PDD's revenue jumped 44% to 99.35 billion yuan ($13.72 billion) for the three months ended Sept. 30. That compared with the 102.65 billion yuan average of 17 analyst estimates compiled by LSEG. Net income rose to 24.98 billion yuan from 15.54 billion yuan in the same period a year earlier. ($1 = 7.2409 Chinese yuan renminbi) (Reporting by Deborah Sophia in Bengaluru and Casey Hall in Shanghai; Editing by Christopher Cushing and Anil D'Silva)
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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