Temu Parent PDD Holdings Jumps As Q1 Earnings Blow Past Expectations

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 ...