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Aug 27, 2024 9:00 AM

These Analysts Slash Their Forecasts On PDD Holdings Following Q2 Results

PDD Holdings Inc (NASDAQ:PDD) reported weaker-than-expected revenue for its fiscal second quarter on Monday.

The company posted revenue growth of 86% year-on-year to $13.36 billion (97.06 billion Chinese yuan), missing the analyst consensus estimate of $14.02 billion. The Chinese online retailer’s adjusted earnings per ADS of $3.20 (23.24 Chinese yuan) increased from 10.47 Chinese yuan Y/Y, beating the analyst consensus estimate of $2.73.

"While encouraged by the solid progress we made in the past few quarters, we see many challenges ahead," said Mr. Lei Chen, Chair and Co-CEO of PDD Holdings.

"In the ...