PDD Jumps 15% After Revenue Beats Estimates Amid Overseas Push

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PDD’s strong performance came as the company spent big on its overseas e-commerce business Temu, including marquee Super Bowl ads. Photo: Bloomberg

(Bloomberg) — PDD Holdings Inc.’s shares jumped 15% in New York premarket trading Wednesday after the company reported stronger-than-expected revenue as it ramped up its overseas expansion.

The Chinese-owned e-commerce platform reported revenue of 88.9 billion yuan ($12.4 billion) in the December quarter, beating the average estimate of 79.9 billion yuan by analysts surveyed by Bloomberg. It was the company’s first triple-digit growth since the first quarter of 2021. Net income in the period was 23.3 billion yuan, compared with the average estimate of about 15.1 billion yuan.