SHANGHAI (Reuters) – PDD Holdings, which operates low-cost e-commerce marketplaces in China and internationally, beat Wall Street estimates for fourth-quarter revenue on Wednesday, driven by robust user growth and sales on its global platform, Temu.
The company’s revenue was 88.88 billion yuan ($12.35 billion) in the quarter ended Dec. 31, compared with analysts’ average estimate of 79.23 billion yuan, based on LSEG data.
($1 = 7.1987 Chinese yuan renminbi)
(Reporting by Jaspreet Singh in Bengaluru and Casey Hall; Editing by Himani Sarkar and Shailesh Kuber)
Comments