PDD’s Shares Climb After Earnings Beat Soothes Worst Trade Fears
Temu is the world’s largest discount online retailer.
Photographer: Raul Ariano/BloombergThis article is for subscribers only.
PDD Holdings Inc. shares climbed after the owner of Temu reported a faster-than-expected 18% earnings rise, assuaging investors’ concerns about a business vulnerable to US tariffs and intensifying domestic competition.
The stock gained 4% in New York even though the e-commerce company reported lower-than-anticipated revenue of 110.6 billion yuan ($15.3 billion) for the December quarter. Net income climbed to a stronger-than-expected 27.4 billion yuan.