Temu-Operator PDD Holdings Jumps 8% Premarket After It Beats Q1 Revenue Estimates

Reuters05-22

May 22 (Reuters) - PDD Holdings beat first-quarter revenue estimates on Wednesday, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce platform Pinduoduo attracted more price-conscious customers.

PDD Holdings shares jump 8% in premarket trading after earnings, pushing its market capitalization surpassing Alibaba.

Consumers in China have preferred less expensive shopping platforms such as Pinduoduo and Bytedance's Douyin at a time when a prolonged property sector downturn and rising local debt weighed on the country's economic growth.

Temu, the sister app of Pinduoduo, sells a wide variety of products, many of them made in China, for rock-bottom prices. Since launching in September 2022, its popularity has grown as has competition with e-commerce incumbents such as Shein and Amazon in the United States and other markets.

Competitors Alibaba and JD.com last week reported revenue that beat market expectations and said they expect consumer confidence to tick higher this year.

The company's revenue was at 86.81 billion yuan ($11.99 billion) in the first quarter, compared with analysts' average estimate of 75.66 billion yuan, according to LSEG data.

PDD's net income rose to 28 billion yuan from 8.1 billion yuan a year ago.

($1 = 7.2396 Chinese yuan renminbi)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

StockMaskter
05-22
StockMaskter
CB la china stocks

Leave a comment

1

15

1

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1134380163?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-22 18:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1134380163","market":"us","top_or_hot":-1,"title":"Temu-Operator PDD Holdings Jumps 8% Premarket After It Beats Q1 Revenue Estimates","media":"Reuters","content":"<html><head></head><body><p>May 22 (Reuters) - PDD Holdings beat first-quarter revenue estimates on Wednesday, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce platform Pinduoduo attracted more price-conscious customers.</p><p>PDD Holdings shares jump 8% in premarket trading after earnings, pushing its market capitalization surpassing Alibaba.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c7d1731c66ea218a26377646d5029cce\" tg-width=\"817\" tg-height=\"430\"/></p><p>Consumers in China have preferred less expensive shopping platforms such as Pinduoduo and Bytedance&#39;s Douyin at a time when a prolonged property sector downturn and rising local debt weighed on the country&#39;s economic growth.</p><p>Temu, the sister app of Pinduoduo, sells a wide variety of products, many of them made in China, for rock-bottom prices. Since launching in September 2022, its popularity has grown as has competition with e-commerce incumbents such as Shein and Amazon in the United States and other markets.</p><p>Competitors Alibaba and JD.com last week reported revenue that beat market expectations and said they expect consumer confidence to tick higher this year.</p><p>The company&#39;s revenue was at 86.81 billion yuan ($11.99 billion) in the first quarter, compared with analysts&#39; average estimate of 75.66 billion yuan, according to LSEG data.</p><p>PDD&#39;s net income rose to 28 billion yuan from 8.1 billion yuan a year ago.</p><p>($1 = 7.2396 Chinese yuan renminbi)</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Temu-Operator PDD Holdings Jumps 8% Premarket After It Beats Q1 Revenue Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTemu-Operator PDD Holdings Jumps 8% Premarket After It Beats Q1 Revenue Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n2024-05-22 18:34 北京时间&nbsp;&nbsp;&nbsp;<strong>Reuters</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>May 22 (Reuters) - PDD Holdings beat first-quarter revenue estimates on Wednesday, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PDD","symbol_name":"拼多多","start_time":0,"source_url":"","article_id":"1134380163","we_media_id":"1036604489","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1134380163","pubTimestamp":1716374073,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"summary":"PDD Holdings dropped over 9% in premarket trading after earnings, erasing earlier gains.","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PDD":"拼多多"},"translate_title":"Temu——运营商PDD Holdings盘前股价上涨8%，超过Q1收入预期","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PDD":1.1},"content_text":"May 22 (Reuters) - PDD Holdings beat first-quarter revenue estimates on Wednesday, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce platform Pinduoduo attracted more price-conscious customers.PDD Holdings shares jump 8% in premarket trading after earnings, pushing its market capitalization surpassing Alibaba.Consumers in China have preferred less expensive shopping platforms such as Pinduoduo and Bytedance's Douyin at a time when a prolonged property sector downturn and rising local debt weighed on the country's economic growth.Temu, the sister app of Pinduoduo, sells a wide variety of products, many of them made in China, for rock-bottom prices. Since launching in September 2022, its popularity has grown as has competition with e-commerce incumbents such as Shein and Amazon in the United States and other markets.Competitors Alibaba and JD.com last week reported revenue that beat market expectations and said they expect consumer confidence to tick higher this year.The company's revenue was at 86.81 billion yuan ($11.99 billion) in the first quarter, compared with analysts' average estimate of 75.66 billion yuan, according to LSEG data.PDD's net income rose to 28 billion yuan from 8.1 billion yuan a year ago.($1 = 7.2396 Chinese yuan renminbi)","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":308621261369480,"gmtCreate":1716374701215,"gmtModify":1716374704660,"author":{"id":"3571912128804490","authorId":"3571912128804490","name":"StockMaskter","avatar":"https://static.tigerbbs.com/54423ee24d3d1b6ee5a616d52dcb245a","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":5,"crmLevelSwitch":1,"idStr":"3571912128804490","authorIdStr":"3571912128804490"},"htmlText":"CB la china stocks","listText":"CB la china stocks","text":"CB la china stocks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/308621261369480","repostId":1134380163,"repostType":2,"repost":{"id":"1134380163","kind":"news","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1716374073,"share":"https://ttm.financial/m/news/1134380163?lang=&edition=fundamental","pubTime":"2024-05-22 18:34","market":"us","language":"en","title":"Temu-Operator PDD Holdings Jumps 8% Premarket After It Beats Q1 Revenue Estimates","url":"https://stock-news.laohu8.com/highlight/detail?id=1134380163","media":"Reuters","summary":"PDD Holdings dropped over 9% in premarket trading after earnings, erasing earlier gains.","content":"<html><head></head><body><p>May 22 (Reuters) - PDD Holdings beat first-quarter revenue estimates on Wednesday, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce platform Pinduoduo attracted more price-conscious customers.</p><p>PDD Holdings shares jump 8% in premarket trading after earnings, pushing its market capitalization surpassing Alibaba.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c7d1731c66ea218a26377646d5029cce\" tg-width=\"817\" tg-height=\"430\"/></p><p>Consumers in China have preferred less expensive shopping platforms such as Pinduoduo and Bytedance&#39;s Douyin at a time when a prolonged property sector downturn and rising local debt weighed on the country&#39;s economic growth.</p><p>Temu, the sister app of Pinduoduo, sells a wide variety of products, many of them made in China, for rock-bottom prices. Since launching in September 2022, its popularity has grown as has competition with e-commerce incumbents such as Shein and Amazon in the United States and other markets.</p><p>Competitors Alibaba and JD.com last week reported revenue that beat market expectations and said they expect consumer confidence to tick higher this year.</p><p>The company&#39;s revenue was at 86.81 billion yuan ($11.99 billion) in the first quarter, compared with analysts&#39; average estimate of 75.66 billion yuan, according to LSEG data.</p><p>PDD&#39;s net income rose to 28 billion yuan from 8.1 billion yuan a year ago.</p><p>($1 = 7.2396 Chinese yuan renminbi)</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Temu-Operator PDD Holdings Jumps 8% Premarket After It Beats Q1 Revenue Estimates</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTemu-Operator PDD Holdings Jumps 8% Premarket After It Beats Q1 Revenue Estimates\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2024-05-22 18:34</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>May 22 (Reuters) - PDD Holdings beat first-quarter revenue estimates on Wednesday, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce platform Pinduoduo attracted more price-conscious customers.</p><p>PDD Holdings shares jump 8% in premarket trading after earnings, pushing its market capitalization surpassing Alibaba.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/c7d1731c66ea218a26377646d5029cce\" tg-width=\"817\" tg-height=\"430\"/></p><p>Consumers in China have preferred less expensive shopping platforms such as Pinduoduo and Bytedance&#39;s Douyin at a time when a prolonged property sector downturn and rising local debt weighed on the country&#39;s economic growth.</p><p>Temu, the sister app of Pinduoduo, sells a wide variety of products, many of them made in China, for rock-bottom prices. Since launching in September 2022, its popularity has grown as has competition with e-commerce incumbents such as Shein and Amazon in the United States and other markets.</p><p>Competitors Alibaba and JD.com last week reported revenue that beat market expectations and said they expect consumer confidence to tick higher this year.</p><p>The company&#39;s revenue was at 86.81 billion yuan ($11.99 billion) in the first quarter, compared with analysts&#39; average estimate of 75.66 billion yuan, according to LSEG data.</p><p>PDD&#39;s net income rose to 28 billion yuan from 8.1 billion yuan a year ago.</p><p>($1 = 7.2396 Chinese yuan renminbi)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PDD":"拼多多"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134380163","content_text":"May 22 (Reuters) - PDD Holdings beat first-quarter revenue estimates on Wednesday, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce platform Pinduoduo attracted more price-conscious customers.PDD Holdings shares jump 8% in premarket trading after earnings, pushing its market capitalization surpassing Alibaba.Consumers in China have preferred less expensive shopping platforms such as Pinduoduo and Bytedance's Douyin at a time when a prolonged property sector downturn and rising local debt weighed on the country's economic growth.Temu, the sister app of Pinduoduo, sells a wide variety of products, many of them made in China, for rock-bottom prices. Since launching in September 2022, its popularity has grown as has competition with e-commerce incumbents such as Shein and Amazon in the United States and other markets.Competitors Alibaba and JD.com last week reported revenue that beat market expectations and said they expect consumer confidence to tick higher this year.The company's revenue was at 86.81 billion yuan ($11.99 billion) in the first quarter, compared with analysts' average estimate of 75.66 billion yuan, according to LSEG data.PDD's net income rose to 28 billion yuan from 8.1 billion yuan a year ago.($1 = 7.2396 Chinese yuan renminbi)","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":15,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1134380163"}