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PDD Holdings Beats Q2 Estimates Despite U.S. Tariff Exemption Loss
PDD Holdings Beats Q2 Estimates Despite U.S. Tariff Exemption Loss
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BTCCSquare news:
PDD Holdings, the parent company of bargain shopping platform Temu, surpassed analyst expectations with its second-quarter earnings despite losing a crucial U.S. tariff exemption. Adjusted earnings per ADS reached 22.07 Chinese yuan ($3.08), outperforming the projected CNY14.94, while revenue climbed 7% year-over-year to CNY103.98 billion ($14.51 billion).
The expiration of the de minimis exemption—a trade loophole allowing tariff-free shipments under $800—squeezed Chinese e-commerce players like Temu and Shein in May. Beijing's consumer subsidy program partially offset the pressure, though revenue growth slowed from Q1's 10% surge. "Revenues grow," remarked Finance VP Jun Liu, acknowledging competitive headwinds.
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