Temu owner PDD misses revenue, profit estimates amid consumer woes

Temu owner PDD misses revenue, profit estimates amid consumer woes

FILE PHOTO: Temu logo is seen in this illustration taken August 22, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

China’s PDD Holdings fell short of market estimates for third-quarter revenue and profit on Thursday, as promotional offers and discounts did not persuade cost-conscious consumers to spend as much as expected on its e-commerce platforms.