Reported 5 months ago
PDD Holdings exceeded first-quarter revenue expectations with a 131% increase to 86.81 billion yuan, driven by its international shopping platform Temu and growing interest in its Chinese discount e-commerce site Pinduoduo. The company's shares rose by 5.7% in pre-market trading. Competitors Alibaba and JD.com also reported revenue surpassing market predictions, highlighting the increasing competition in the e-commerce sector. Despite facing challenges and increased costs, PDD remains focused on adapting to changing consumer demands and maintaining competitiveness in the market.
Source: YAHOO