PDD Stock Surges As Temu Parent Easily Beats Earnings Expectations

U.S.-listed PDD stock jumped in early Wednesday trading after Temu parent company PDD Holdings (PDD) reported fourth-quarter earnings that easily topped expectations.

X

For the three months ending Dec. 31, PDD Holdings PDD said it earned an an adjusted 15.83 Chinese yuan ($2.23) per share on sales of 88.8 billion yuan ($12.52 billion). On average, analysts were expecting PDD to post earnings of $1.57 per share and sales of $11.05 billion, according to FactSet.

On the stock market today, PDD stock is up 12.5% at 143.64 in premarket trading.

PDD Holdings includes the China-focused e-commerce platform Pinduoduo and international discount retail platform Temu. U.S.-listed PDD shares surged nearly 80% in 2023 but are off 12% since the start of the year.

Further, MarketSurge shows PDD stock has formed a double-bottom base with a buy point of 139.06.

More earnings coverage to come.

YOU MAY ALSO LIKE:

Is Amazon Stock A Buy?

PDD Stock Rises As One Analyst Upgrades Temu Parent To Buy, Another Downgrades

TikTok Ban: What Bill Could Mean For Meta, Snap, Amazon And Apple

Find Winning Stocks With MarketSurge Pattern Recognition & Custom Screens

See Stocks On The List Of Leaders Near A Buy Point

Futures: AI Stock Extends Slide; Fed Looms

..

Read More

Recommended For You

Leave a Reply

Your email address will not be published. Required fields are marked *

Discover more from Investor News Blog Finance Exchange News

Subscribe now to keep reading and get access to the full archive.

Continue reading