Key TakeawaysAmerican depositary receipts (ADRs) of Temu parent company PDD Holdings rose Wednesday as the company reported quarterly results substantially above expectations.Revenue once again doubled year-over-year, while net income more than tripled.Temu has driven the revenue growth in the U.S. since its September 2022 launch, gaining market share and attention of American consumers. Chinese e-commerce company PDD Holdings (PDD), which owns the discount marketplace Temu, saw its American depositary rece ...

Revenue Growth - Total revenues in Q1 2024 were RMB86,812.1 million (US$12,023.3 million), a 131% increase from RMB37,637.1 million in Q1 2023[3][4] - Revenues from online marketing services and others were RMB42,456.2 million (US$5,880.1 million), a 56% increase from RMB27,244.4 million in Q1 2023[1] - Revenues from transaction services were RMB44,355.8 million (US$6,143.2 million), a 327% increase from RMB10,392.6 million in Q1 2023[18] - Total revenues for Q1 2024 reached RMB 86,812,059 (US$ 12,023,331), a significant increase from RMB 37,637,050 in the same period last year[25] - Online marketing services and others contributed RMB 42,456,243 (US$ 5,880,121) to revenues in Q1 2024, up from RMB 27,244,426 in Q1 2023[26] - Transaction services revenue for Q1 2024 was RMB 44,355,816 (US$ 6,143,210), compared to RMB 10,392,624 in Q1 2023[26] Profitability - Operating profit in Q1 2024 was RMB25,973.7 million (US$3,597.3 million), a 275% increase from RMB6,929.0 million in Q1 2023[2][3] - Non-GAAP operating profit in Q1 2024 was RMB28,552.2 million (US$3,954.4 million), a 237% increase from RMB8,462.4 million in Q1 2023[2][3] - Net income attributable to ordinary shareholders in Q1 2024 was RMB27,997.8 million (US$3,877.7 million), a 246% increase from RMB8,101.0 million in Q1 2023[2][3] - Non-GAAP net income attributable to ordinary shareholders in Q1 2024 was RMB30,601.8 million (US$4,238.3 million), a 202% increase from RMB10,126.4 million in Q1 2023[2][3] - Net income for Q1 2024 was RMB 27,997,826 (US$ 3,877,654), compared to RMB 8,101,027 in Q1 2023[25] - Non-GAAP net income attributable to ordinary shareholders for Q1 2024 was RMB 30,601,805 (US$ 4,238,301), up from RMB 10,126,392 in Q1 2023[28] - Diluted earnings per ordinary share for Q1 2024 were RMB 5.18 (US$ 0.71), compared to RMB 1.73 in Q1 2023[28] Cash Flow and Liquidity - Net cash generated from operating activities in Q1 2024 was RMB21,067.2 million (US$2,917.8 million), compared with RMB1,338.0 million in Q1 2023[2][16] - Cash, cash equivalents, and short-term investments were RMB242.1 billion (US$33.5 billion) as of March 31, 2024, compared with RMB217.2 billion as of December 31, 2023[20] - Total current assets as of March 31, 2024, were RMB 316,469,963 (US$ 43,830,584), up from RMB 294,750,472 in the previous year[24] - Cash and cash equivalents stood at RMB 55,591,888 (US$ 7,699,388) as of March 31, 2024, compared to RMB 59,794,469 in the previous year[24] Operating Expenses - Sales and marketing expenses in Q1 2024 were RMB23,410.7 million (US$3,242.3 million), a 44% increase from RMB16,259.7 million in Q1 2023[19] - Total operating expenses for Q1 2024 were RMB 28,143,720 (US$ 3,897,860), up from RMB 19,582,747 in Q1 2023[25] - Research and development expenses increased to RMB 2,909,620 (US$ 402,978) in Q1 2024 from RMB 2,506,657 in Q1 2023[25]

DUBLIN and SHANGHAI, May 22, 2024 (GLOBE NEWSWIRE) -- PDD Holdings Inc. ("PDD Holdings" or the "Company") (NASDAQ:PDD), today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights Total revenues in the quarter were RMB86,812.1 million (US$112,023.3 million), an increase of 131% from RMB37,637.1 million in the same quarter of 2023.Operating profit in the quarter was RMB25,973.7 million (US$3,597.3 million), an increase of 275% from RMB6,929.0 mill ...

DUBLIN and SHANGHAI, May 22, 2024 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (“PDD Holdings” or the “Company”) (NASDAQ: PDD), today announced its unaudited financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights Total revenues in the quarter were RMB86,812.1 million (US$112,023.3 million), an increase of 131% from RMB37,637.1 million in the same quarter of 2023.Operating profit in the quarter was RMB25,973.7 million (US$3,597.3 million), an increase of 275% from RMB6,929.0 mil ...

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Investors interested in Internet - Commerce stocks are likely familiar with PDD Holdings Inc. (PDD) and MercadoLibre (MELI) . But which of these two stocks is more attractive to value investors? We'll need to take a closer look to find out.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highl ...

AsiaVision Summary I am not a fan of Chinese stocks for a multitude of reasons, the most relevant is fear of the unknown given that the CCP (Chinese Communist Party) has absolute rule and can and has changed the investment landscape and rules with a stroke of a pen, no voting necessary. At the same time, the Chinese economy is maturing, the population is in decline and aging, and it is locked into a long-term commercial conflict with the US and other developed nations on a host of dilemmas, some due to ...

DUBLIN and SHANGHAI, May 15, 2024 (GLOBE NEWSWIRE) -- PDD Holdings Inc. ("PDD Holdings" or the "Company") (NASDAQ:PDD) today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024, before U.S. markets open on Wednesday, May 22, 2024. The Company's management will hold an earnings conference call at 7:30 AM ET on May 22, 2024 (12:30 PM IST and 7:30 PM HKT on the same day). The conference call will be webcast live at https://investor.pddholdings.com/investor-e ...

DUBLIN and SHANGHAI, May 15, 2024 (GLOBE NEWSWIRE) -- PDD Holdings Inc. (“PDD Holdings” or the “Company”) (NASDAQ: PDD) today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024, before U.S. markets open on Wednesday, May 22, 2024. The Company’s management will hold an earnings conference call at 7:30 AM ET on May 22, 2024 (12:30 PM IST and 7:30 PM HKT on the same day). The conference call will be webcast live at https://investor.pddholdings.com/investor- ...

PDD Holdings Inc. (PDD) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this company have returned +13.7% over the past month versus the Zacks S&P 500 composite's -0.2% change. The Zacks Internet - Commerce industry, to which PDD Holdings Inc. belongs, has gained 4.4% over this period. Now the key question is: Where could the stock be headed in the near t ...