Temu Parent PDD Stock Falls 5% After Earnings Miss Estimates

Author: Noah Taylor…

Temu Parent PDD Stock Falls 5% After Earnings Miss Estimates

PDD Holdings missed first-quarter earnings and revenue estimates, sending shares down 5% in premarket trading Wednesday.

Revenue and Earnings Details

The Chinese company reported revenue of 106.2 billion yuan ($15.4 billion), an 11% increase year-over-year but below analysts' estimates of 109.8 billion yuan. Adjusted earnings per American depositary share of 9.51 yuan ($1.38) also missed the Wall Street consensus of 16.56 yuan, according to FactSet.

Company Commentary

Co-CEO Lei Chen said, "This quarter marks the start of deep transformations in our business, our internal processes and our organization." Fellow Co-CEO Jiazhen Zhao added, "As we head into the next decade of our journey, supply chain investments will be our core strategic priority."

Stock Performance

Heading into earnings, the shares were down 15% so far this year and 6% lower over the past 12 months.

Impacted Symbols

Symbols affected by this headline and their sentiment signals

PDDNegative

PDD Holdings Inc.

Revenue and earnings missed estimates, causing a 5% stock decline.

Impact score85%

The news, analyses, and comments on this platform do not constitute investment advice. When making investment decisions, you should conduct your own research and consult with a qualified financial advisor if necessary. FiNews cannot be held responsible for any losses that may arise from the use of this information.

More Headlines