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Temu Owner PDD Misses Revenue and Profit Estimates as Consumers Struggle

PDD Holdings Q3 Adj EPADS $2.65 Misses $2.82 Estimate, Sales $14.16B Miss $14.47B Estimate.PDD Holdings shares briefly plunged 15% in premarket trading after earnings.

Temu Owner PDD Misses Revenue and Profit Estimates as Consumers Struggle

# Earnings & Estimates

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What's in focus?","image":"https://community-static.tradeup.com/news/dc18b55f50cc4b6c035031de21e3d6d2"}],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Thanks&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>Thanks&nbsp;</p></body></html>","text":"Thanks","highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/373517123940360","repostId":1135173272,"repostType":2,"repost":{"id":"1135173272","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":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"pubTimestamp":1732188797,"share":"https://www.laohu8.com/m/news/1135173272?lang=&edition=full","pubTime":"2024-11-21 19:33","market":"us","language":"en","title":"Temu Owner PDD Misses Revenue and Profit Estimates as Consumers Struggle","url":"https://stock-news.laohu8.com/highlight/detail?id=1135173272","media":"Reuters","summary":"PDD Holdings Q3 Adj EPADS $2.65 Misses $2.82 Estimate, Sales $14.16B Miss $14.47B Estimate.PDD Holdings shares briefly plunged 15% in premarket trading after earnings.","content":"<html><head></head><body><p>Nov 21 (Reuters) - China&#39;s PDD Holdings fell short of market estimates for third-quarter revenue and profit on Thursday, as promotional offers and discounts did not persuade cost-conscious consumers to spend as much as expected on its e-commerce platforms.</p><p>PDD&#39;s U.S.-listed shares briefly fell more than 15% in premarket trading.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/41788e8d13c9113f149e0b39268e61b1\" title=\"\" tg-width=\"875\" tg-height=\"624\"/></p><p>Higher unemployment among Chinese youth and a property sector crisis have taken a toll on consumer confidence, holding back sales at Pinduoduo, PDD&#39;s domestic online shopping site.</p><p>Its domestic competitors, e-commerce majors Alibaba and JD.com, also reported tepid sales growth for their respective September quarters.</p><p>While Pinduoduo has benefited from its low-cost focus, competitive pressure has been increasing with rivals ramping up their own promotions and discounts, resulting in a price war.</p><p>“Our topline growth further moderated quarter-on-quarter amid intensified competition and ongoing external challenges,” said Jun Liu, VP of Finance at PDD Holdings.</p><p>PDD&#39;s revenue jumped 44% to 99.35 billion yuan ($13.72 billion) for the three months ended Sept. 30. That compared with the 102.65 billion yuan average of 17 analyst estimates compiled by LSEG.</p><p>Net income rose to 24.98 billion yuan from 15.54 billion yuan in the same period a year earlier, but the firm reported an adjusted profit of 18.59 yuan per American Depository Share, missing estimates of 19.79 yuan.</p><p>In August, following the announcement of a second-quarter earnings miss and downbeat commentary from executives about the firm&#39;s outlook, PDD shares saw their biggest one-day fall since its 2018 listing, wiping out nearly $55 billion in market capitalisation.</p><p>($1 = 7.2409 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 Owner PDD Misses Revenue and Profit Estimates as Consumers Struggle</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; 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That compared with the 102.65 billion yuan average of 17 analyst estimates compiled by LSEG.</p><p>Net income rose to 24.98 billion yuan from 15.54 billion yuan in the same period a year earlier, but the firm reported an adjusted profit of 18.59 yuan per American Depository Share, missing estimates of 19.79 yuan.</p><p>In August, following the announcement of a second-quarter earnings miss and downbeat commentary from executives about the firm&#39;s outlook, PDD shares saw their biggest one-day fall since its 2018 listing, wiping out nearly $55 billion in market capitalisation.</p><p>($1 = 7.2409 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":"1135173272","content_text":"Nov 21 (Reuters) - China's PDD Holdings fell short of market estimates for third-quarter revenue and profit on Thursday, as promotional offers and discounts did not persuade cost-conscious consumers to spend as much as expected on its e-commerce platforms.PDD's U.S.-listed shares briefly fell more than 15% in premarket trading.Higher unemployment among Chinese youth and a property sector crisis have taken a toll on consumer confidence, holding back sales at Pinduoduo, PDD's domestic online shopping site.Its domestic competitors, e-commerce majors Alibaba and JD.com, also reported tepid sales growth for their respective September quarters.While Pinduoduo has benefited from its low-cost focus, competitive pressure has been increasing with rivals ramping up their own promotions and discounts, resulting in a price war.“Our topline growth further moderated quarter-on-quarter amid intensified competition and ongoing external challenges,” said Jun Liu, VP of Finance at PDD Holdings.PDD's revenue jumped 44% to 99.35 billion yuan ($13.72 billion) for the three months ended Sept. 30. 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