China's PDD misses quarterly revenue estimates

PINDUODUO INC.

PINDUODUO INC.

PDD

0.00

May 27 (Reuters) - Chinese e-commerce major PDD Holdings PDD.O missed market estimates for quarterly revenue on Wednesday, as lingering economic weakness dented demand at the company's domestic discount marketplace, Pinduoduo.

The company reported total revenue of 106.23 billion yuan ($15.67 billion) in the first quarter ended March, compared with analysts' average estimate of 109.33 billion yuan, according to data compiled by LSEG.


($1 = 6.7807 Chinese yuan renminbi)


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