(Bloomberg) — PDD Holdings Inc. shares climbed after the owner of Temu reported a faster-than-expected 18% earnings rise, assuaging investors’ concerns about a business vulnerable to US tariffs and intensifying domestic competition.
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The stock gained 4% in New York even though the e-commerce company reported lower-than-anticipated revenue of 110.6 billion yuan ($15.3 billion) for the December quarter. Net income climbed to a stronger-than-expected 27.4 billion yuan.
PDD’s results come at a time of heightened uncertainty about its business both domestically and abroad, which has helped tamp down expectations. Temu is grappling with elevated US tariffs on Chinese products and the potential closure of a tax loophole for small-value parcels. Domestically, PDD has warned about competition since August and predicted that its profitability will trend…
