Temu owner PDD reports Q2 revenue up 8.1% YoY to ~$16.72B, missing estimate of ~$17.17B, net profit down 12% YoY to ~$4.04B, above ~$3.63B estimate (Tracy Qu/Wall Street Journal)

Why It Matters

Tracy Qu / Wall Street Journal : Temu owner PDD reports Q2 revenue up 8.1% YoY to ~$16.72B, missing estimate of ~$17.17B, net profit down 12% YoY to ~$4.04B, above ~$3.63B estimate   —  Rising competition from livestreaming and social e-commerce is challenging PDD's market position  —  The Chinese owner of bargain-shopping …

Provenance