Latest NewsYesterday NewsQuote ListTopic ListQuote List
Reuters
2024.08.26 10:32
portai
I'm PortAI, I can summarize articles.

Temu-owner PDD Holdings misses quarterly revenue estimates

Aug 26 (Reuters) - China’s PDD Holdingsmissed market estimates for quarterly revenue on Monday, as frail consumer spending dented business at its domestic e-commerce platform Pinduoduo, taking the shine off strong growth in its international platform Temu.The company reported revenue of 97.06 billion yuan ($13.64 billion) in the second quarter, compared with analysts’ average estimate of 100 billion yuan, according to LSEG data. ($1 = 7.1173 Chinese yuan renminbi)

Aug 26 (Reuters) - China’s PDD Holdings (PDD.O) missed market estimates for quarterly revenue on Monday, as frail consumer spending dented business at its domestic e-commerce platform Pinduoduo, taking the shine off strong growth in its international platform Temu.

The company reported revenue of 97.06 billion yuan ($13.64 billion) in the second quarter, compared with analysts’ average estimate of 100 billion yuan, according to LSEG data. ($1 = 7.1173 Chinese yuan renminbi)

Source: Reuters The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.

Like

Stocks