“Temu-Owner PDD Holdings Easily Beats Q4 Estimates As Revenue Doubles”
March 25, 2024
“…For the three months ending Dec. 31, PDD Holdings said it earned an adjusted 15.83 Chinese yuan ($2.23) per share on sales of 88.88 billion yuan ($12.52 billion). On average, analysts were expecting PDD to post earnings of $1.57 per share and sales of $11.05 billion, according to FactSet.
Adjusted earnings per share increased 107% in local currency while revenue increased 123% in local currency. On the stock market today, PDD stock gained 3.5% to close at 132.17. Shares surged more than 15% in early trading before easing back…”