Temu and Pinduoduo owner PDD reports Q2 revenue up 8.1% YoY to ~$16.72B, missing est. of ~$17.17B, and net profit down 12% YoY to ~$4.04B, above ~$3.63B est.
Rising competition from livestreaming and social e-commerce is challenging PDD's market position — The Chinese owner of bargain-shopping …
Temu 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.; PDD closes down 10.38%
The company is rolling out more support initiatives to prevent merchants from defecting to other platforms
Temu owner PDD reports Q4 revenue up 12% YoY to ~$18B and net profit down 11% YoY to ~$3.56B, below ~$4B est., as it seeks to retain merchants on its platform
The comphad cautioned that its performance could fluctuate as it rolled out support to keep merchants from defecting to other platforms
Sources: China broadens its probe into Temu owner PDD, dispatching 100+ investigators to its Shanghai HQ, after staff exchanged physical blows with regulators
China has broadened a probe into PDD Holdings Inc. after its employees exchanged blows with regulators, dispatching over 100 investigators …
Temu-owner PDD reports Q1 revenue up 10% YoY to ~$13.3B, below ~$14.4B est., and says it is fulfilling US orders exclusively via local warehouses and merchants
Luz Ding / Bloomberg :