On Thursday, Temu parent PDD Holdings Inc
Revenue grew 24% year-on-year to $15.15 billion (110.61 billion Chinese yuan), missing the analyst consensus estimate of $15.68 billion.
Revenues from online marketing services and others rose 17% Y/Y to $7.81 billion, and revenues from transaction services grew 33% Y/Y to $7.34 billion.
Adjusted operating profit grew by 14% Y/Y to $3.84 billion. The Chinese online retailer's adjusted earnings per ADS of $2.76 (20.15 Chinese yuan) increased from 17.32 Chinese yuan Y/Y, beating the analyst consensus estimate of $2.56.
PDD Holdings held $45.4 billion in cash and equivalents as of December 31, 2024. The company generated $4.05 billion in operating cash flow.
Lei Chen, Chairman and Co-Chief Executive Officer of PDD Holdings, said that the company aims to continue driving high-quality development strategy to benefit the broader e-commerce ecosystem.
Investors can gain exposure to the stock via ProShares Online Retail ETF
Price Action: PDD stock is trading lower by 6.85% to $117.29 premarket at the last check Thursday.
