PDD Holdings reported 106.2 billion yuan in Q1 revenue, missing analyst forecasts of 109.8 billion yuan.
PDD Holdings saw its stock decline after first-quarter revenue reached 106.2 billion yuan ($15.65 billion), below the 109.8 billion yuan analysts expected. Adjusted earnings per American depositary share stood at 9.51 yuan, also missing forecasts of 16.26 yuan per ADS.
Analysts polled by FactSet had anticipated stronger performance, with revenue and earnings estimates exceeding the reported figures. The miss comes amid broader pressure on U.S.-listed Chinese stocks, following regulatory actions affecting cross-border trading platforms.
Shares of PDD fell in early trading, reflecting investor disappointment over the quarterly results. The decline aligns with losses seen in peers like Alibaba, as market sentiment weakens.