Temu Parent PDD Holdings Drops After Q4 Revenue Miss: Details

Benzinga

03-20

On Thursday, Temu parent PDD Holdings Inc (NASDAQ:PDD) shares are trading lower premarket on Thursday after the company reported fiscal fourth-quarter 2024 results.

Revenue grew 24% year-on-year to $15.15 billion (110.61 billion Chinese yuan), missing the analyst consensus estimate of $15.68 billion.

Revenues from online marketing services and others rose 17% Y/Y to $7.81 billion, and revenues from transaction services grew 33% Y/Y to $7.34 billion.

Adjusted operating profit grew by 14% Y/Y to $3.84 billion. The Chinese online retailer’s adjusted earnings per ADS of $2.76 (20.15 Chinese yuan) increased from 17.32 Chinese yuan Y/Y, beating the analyst consensus estimate of $2.56.

PDD Holdings held $45.4 billion in cash and equivalents as of December 31, 2024. The company generated $4.05 billion in operating cash flow.

Lei Chen, Chairman and Co-Chief Executive Officer of PDD Holdings, said that the company aims to continue driving high-quality development strategy to benefit the broader e-commerce ecosystem.

Investors can gain exposure to the stock via ProShares Online Retail ETF (NYSE:ONLN) and KraneShares 2x Long PDD Daily ETF (NASDAQ:KPDD).

Price Action: PDD stock is trading lower by 6.85% to $117.29 premarket at the last check Thursday.

Read Next:

Billionaire Investor David Tepper’s ‘Everything’ China Bet Pays Off With Alibaba Up 40% Since September

Photo via Shutterstock.

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