U.S.-listed PDD shares soared in early Wednesday trading on the back of Tem’s parent company. PDD Holdings (P.D.D.) Fourth-quarter profits easily exceeded expectations.
X
PDD Holdings PDD announced revenue of 88.8 billion yuan ($12.52 billion) and adjusted profit of 15.83 Chinese yuan ($2.23) per share for the three months ended December 31. Analysts, on average, expected PDD to report earnings of $1.57 per share and revenue of $11.05 billion, according to FactSet.
On the stock market today, PDD stock is up 12.5% in pre-market trading to 143.64.
PDD Holdings includes China-focused e-commerce platform Pinduoduo and international discount retail platform Temu. U.S.-listed PDD stock has soared nearly 80% in 2023, but is down 12% since the beginning of the year.
Even further away, market surge This shows that PDD stock has formed a double bottom with a buy point of 139.06.
More earnings coverage to come.
You may also like:
Is Amazon stock worth buying?
PDD stock rises as one analyst upgrades Tem’s parent company to buy and another downgrades it.
TikTok ban: What this bill means for Meta, Snap, Amazon and Apple
MarketSurge Find winning stocks with pattern recognition and custom screens
See which stocks are close to buy points on the leader’s list
Futures: AI stocks widen the decline.fed rooms
