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PDD Holdings (PDD 3.98%), a notable operator in global e-commerce, unveiled its financial results for the fourth quarter of 2024 on March 20. The company reported non-GAAP earnings per share (EPS) of $2.76, slightly exceeding the analyst estimate of $2.74.
Jenny Horne turns to two stories behind some of the premarket's downside trading action. PDD Holdings (PDD) slipped despite its 24% increase in year-over-year revenue.
Temu and Pinduoduo parent PDD Holdings Inc (NASDAQ:PDD) reported lower-than-expected fourth-quarter earnings and revenue before the open today, dinged by stiff competition and weak demand in China.
U.S.-listed shares of PDD Holdings (PDD) rose Thursday after the parent of the Temu shopping app posted a higher quarterly profit even though it missed sales estimates as Chinese consumers pulled back spending and it faced higher costs.
PDD Holdings Inc. (NASDAQ:PDD ) Q4 2024 Earnings Call March 20, 2025 7:30 AM ET Company Participants Unidentified Company Representative - Lei Chen - Chairman & Co-CEO Jiazhen Zhao - Executive Director & Co-CEO Jun Liu - VP, Finance Conference Call Participants Joyce Ju - Bank of America Securities Alicia Yap - Citigroup Kenneth Fong - UBS Operator Ladies and gentlemen, thank you for standing by, and welcome to PDD Holdings Inc. Fourth Quarter and Fiscal Year 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
PDD Holdings Inc. just released its earnings for the fourth quarter of 2024. The release mostly beat analyst estimates, with a miss on revenue and beats on GAAP and adjusted EPS. Going into earnings, expectations were fairly high, as analysts expected positive sequential growth when the previous quarter showed a sequential decline.
PDD Holdings Inc. Sponsored ADR (PDD) came out with quarterly earnings of $2.76 per share, beating the Zacks Consensus Estimate of $2.56 per share. This compares to earnings of $2.40 per share a year ago.
Shares in PDD Holdings Inc (NASDAQ:PDD) fell 7% in premarket trading in New York after the Temu owner reported lower revenues than expected for the final quarter of last year. The Shanghai-based tech conglomerate, which also has a base in Dublin, Ireland, reported total fourth-quarter revenues of RMB 110.6 billion (US$115.15 billion), an increase of 24% on a year earlier.
Quarterly earnings were 18.53 yuan per American-listed share, on revenue of 110.6 billion yuan, missing analysts' expectations.
PDD Holdings , which operates the Pinduoduo and Temu, missed market estimates for quarterly revenue on Thursday, as demand remained weak in the company's Chinese e-commerce business despite deep discounts and government stimulus to boost spending.