Temu owner reports $4bn net income for Q2 2026 despite revenue growth, amid regulatory fines and legal challenges.
PDD Holdings posted a 12% year-on-year decline in net income to 27.18bn yuan ($4bn) for Q2 2026, despite an 8% rise in total revenue to 112.35bn yuan. The revenue increase was driven by a 13% growth in transaction services, reaching 54.72bn yuan, and higher online marketing income of 57.63bn yuan.
Operating profit for the quarter rose 8% to 27.8bn yuan, while first-half net income fell to 39.72bn yuan from 45.49bn yuan a year earlier. Revenue for the six-month period climbed to 218.58bn yuan, up from 199.65bn yuan, with operating profit increasing to 47.33bn yuan.
The results follow a €200m ($233m) fine by the European Commission in May for regulatory violations under the Digital Services Act, alongside ongoing legal action in the U.S.