Tracy Qu / Wall Street Journal:
Temu owner PDD reports Q2 revenue up 8.1% YoY to ~$16.72B, missing estimate of ~$17.17B, net profit down 12% YoY to ~$4.04B, above ~$3.63B estimate — Rising competition from livestreaming and social e-commerce is challenging PDD’s market position — The Chinese owner of bargain-shopping …
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