Temu Parent PDD Holdings Drops After Q4 Revenue Miss: Details

On Thursday, Temu parent PDD Holdings Inc (NASDAQ:PDD) shares are trading lower premarket on Thursday after the company reported fiscal fourth-quarter 2024 results.

Revenue grew 24% year-on-year to $15.15 billion (110.61 billion Chinese yuan), missing the analyst consensus estimate of $15.68 billion.

Revenues from online marketing services and others rose 17% Y/Y to $7.81 billion, and revenues from transaction services grew 33% Y/Y to $7.34 billion.

Adjusted operating profit grew by 14% Y/Y to $3.84 billion. ...