Temu parent PDD beats estimates as online discounts boost sales

Temu parent PDD beats estimates as online discounts boost sales

FILE PHOTO: The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. REUTERS/Florence Lo/Illustration/File Photo

Temu parent PDD Holdings beat third-quarter revenue forecasts on Tuesday as heavy discounting boosted sales across its e-commerce platforms in China and overseas, sending its US-listed shares almost 14% higher in premarket trading.

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