Why PDD Holdings Stock Slumped Today

A rather tepid quarterly earnings report published by PDD Holdings (NASDAQ: PDD) led to a modest sell-off in its U.S.-listed equity on Monday.The company, perhaps best known for its international e-commerce site Temu, didn't have a bad second quarter, but its results weren't spectacular, either. Its American Depositary Shares (ADSs) sank by 1.5% during that trading session as a result. PDD reported quarterly revenue of 112.4 billion yuan ($16.7 billion), representing 8% year-over-year growth. That was the encouraging news; on the discouraging front, net income not under generally accepted accounting principles (non-GAAP, or adjusted) declined by 13% to 28.5 billion yuan ($4.2 billion). This translates to 19.33 yuan ($2.88) per ADS. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool