Temu Parent PDD Holdings Posts Higher Income Even as Revenue Comes Up Short
1. PDD reported higher profit despite missing revenue estimates. 2. Chinese consumer spending has declined, affecting revenue growth. 3. Costs of revenue and operating expenses have significantly increased. 4. Retail sales growth in China has slowed to 3.7% in December. 5. PDD shares rose 1.7% but are down 3% over the past year.