Alibaba Rival PDD's Explosive Growth Continues, Revenue More Than Doubles

Published on 22 May 2024 on Benzinga via Yahoo Finance

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.

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