Pinduoduo (PDD) rises after topping earnings, revenue expectations
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Pinduoduo (PDD) Tops Q1 EPS by 245c
May 26, 2023 6:46 AM EDTPinduoduo (NASDAQ: PDD) reported Q1 EPS of RMB6.92, RMB2.45 better than the analyst estimate of RMB4.47. Revenue for the quarter came in at RMB37.64 billion versus the consensus estimate of RMB32.18 billion.
For earnings history and earnings-related data on Pinduoduo (PDD) click here.
... MorePinduoduo owner PDD rides discount wave to beat revenue estimates
May 26, 2023 6:38 AM EDTBy Chavi Mehta and Casey Hall
(Reuters) - PDD Holdings Inc beat analysts' estimates for first-quarter revenue on Friday as more price conscious customers turned to its discount e-commerce platforms including Pinduoduo.
The company's U.S.-listed shares rose 14% in trading before the bell.
Chinese consumer spending has gained some momentum since the country abandoned strict zero-COVID policies late last year. Retail sales in the country rose 5.8% in the January-March period, with online retail sales up 8.6%, according to government data.
This said, the recovery remains uneven, with consumers still somewhat... More
Inflation reading, consumer sentiment, Pinduoduo: 3 things to watch
May 25, 2023 4:29 PM EDTInvesting.com -- Stocks wobbled on Thursday as Nvidia's (NASDAQ: NVDA) outlook lifted tech stocks despite worries that there still was no resolution to the ongoing debt ceiling standoff.
Nvidia is projecting a record quarter because of surging demand for chips that help power artificial intelligence technology, especially around generative chatbots that have caught the public's attention in the last few months. Tech giants from... More
