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Alibaba Rival PDD's Explosive Growth Continues, Revenue More Than Doubles
PDD Holdings Inc (NASDAQ:PDD) reported fiscal first-quarter 2024 revenue growth of 131% year-on-year to $12.02 billion (86.81 billion Chinese yuan), beating the analyst consensus estimate of $10.65 billion.
The Chinese online retailer’s adjusted earnings per ADS of $2.83 (CNY20.72) increased from CNY6.92 Y/Y, beating the analyst consensus estimate of $1.42.
Revenues from online marketing services and others rose 56% Y/Y to $5.88 billion.
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