Temu Parent Company PDD Holdings Posts Strong Financial Results

PDD Holdings (PDD), the parent company of popular Chinese online retailer Temu, has reported quarterly financial results that surpassed Wall Street’s expectations. PDD Holdings, which is domiciled in Dublin, Ireland, announced second-quarter earnings per share (EPS) of $3.08 U.S. on revenue of $14.50 billion U.S. Those results topped the $2.16 U.S. a share in profit and sales of $14.30 billion U.S. that was the consensus expectation of analysts. The strong showing appeared to ease concerns about the negative impact on the Chinese retailer of U.S. import tariffs. However, despite beating Wall Street forecasts, PDD Holdings’ earnings were down about 6% from the same period of 2024. Sales were up 7% year-over-year. Management at PDD Holdings blamed the profit decline on “intense competition” among online retailers worldwide. Retailers in China are also struggling with a pullback in domestic consumer spending. The world’s second largest economy continues to grapple with sluggish growth. The administration of U.S. President Donald Trump and the Chinese government in Beijing have repeatedly delayed imposing steep tariffs on each other’s goods while they negotiate on trade. PDD stock has risen 31% so far in 2025 to trade at $127.11 U.S. per share.