Temu-Owner PDD beats profit estimates as revenue growth slows to 8%

PDD Holdings reported adjusted earnings of 19.33 yuan per ADR, beating the 18.51 yuan estimate, while revenue rose 8% to 112.4 billion yuan ($16.6 billion), falling short of forecasts. The results lifted the stock about 3.5% in pre-market trading, even as Temu faces multiple EU investigations, including a €200 million fine for unsafe products and a probe under the Foreign Subsidies Regulation that could impose penalties up to 1% of annual turnover.