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PDD Holdings Surpasses Q2 Revenue Estimates Amid E-Commerce Price Wars
PDD Holdings Surpasses Q2 Revenue Estimates Amid E-Commerce Price Wars
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BTCCSquare news:
PDD Holdings, the parent company of Pinduoduo and Temu, reported Q2 revenue of $14.5 billion, a 7% year-over-year increase that exceeded analyst expectations. Shares ROSE 2.8% in pre-market trading as the company navigated fierce competition in China's e-commerce sector while expanding its global footprint.
Adjusted net income fell to $4.6 billion, down from $4.8 billion a year earlier, reflecting margin pressures from aggressive discounting campaigns across the industry. Government stimulus measures bolstered consumer spending, providing a tailwind for revenue growth despite the ongoing price war among major platforms like Alibaba and JD.com.
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