PDD Holdings Q4 Profit Rises 43%

PDD Holdings, Inc. (PDD) reported on Monday that fourth-quarter net income attributable to ordinary shareholders grew 43 percent to RMB9.45 billion or $1.37 billion), from RMB6.62 billion in the prior-year quarter. Earnings per ADS were RMB6.52 or $0.95, up from RMB4.66 a year ago.

Excluding items, adjusted net income attributable to ordinary shareholders was RMB12.11 billion or $1.76 billion, compared to RMB8.44 billion in the year-ago quarter. Adjusted earnings per ADS was RMB8.34 or $1.21, compared to RMB5.88 last year.

Total revenues for the quarter increased 46 percent to RMB39.82 billion or $5.77 billion, from RMB27.23 billion in the same quarter last year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
GameStop Corp. Wednesday disclosed that its Board of Directors has elected Chairman Ryan Cohen as Executive Chairman, effective immediately. In a filing with the U.S. Securities and Exchange Commission, the video game retailer said its Board on June 5 terminated Matthew Furlong as President and Chief Executive Officer with immediate effect. Shares of Inditex SA were gaining around 6 percent in the morning trading in Spain after the clothing firm that owns Zara reported Wednesday significant growth in its first-quarter profit on higher revenues as well as the absence of a prior year provision. Regarding the second quarter to date, the company said its store and online sales in constant currency between May 1 and June 4 increased 16.. The U.S. Consumer Product Safety Commission or CPSC, along with Golden, Colorado-based Boppy Co., urged consumers to stop using recalled Boppy Newborn Loungers, following reports of more infant deaths. They also asked online marketplaces to stop selling the recalled product. The company in September 2021 had recalled over 3.3 million infant lounging pillows after it was connected with deaths of 8
Follow RTT