Temu Owner PDD Misses Q1 Estimates, Net Profit Falls 15%
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Temu owner PDD reported first-quarter revenue of about $15.7 billion, up 11% from a year earlier but below estimates of about $16.2 billion. Net profit fell 15% to about $1.85 billion, also missing estimates of about $3.4 billion.
The figures indicate a weaker quarter than expected for the owner of Temu amid fierce competition in China.
From the sources (1 posts)
@techmemeTemu owner PDD reports Q1 revenue up 11% YoY to ~$15.7B, below ~$16.2B est., net profit down 15% to ~$1.85B, below ~$3.4B est., amid fierce competition in China (Wall Street Journal) (Visit Techmeme dot com for the link and full context!)