Shares of Chinese online retailer PDD Holdings Inc. (PDD) are rising more than 13% Friday morning after the company reported improved first-quarter results above analysts' view.
Net profit increased 212% to RMB8.101 billion or $1.179 billion for the first quarter, from RMB2.599 billion in the comparable period last year, driven by growth in revenue.
Earnings per ADS was RMB5.55 or $0.81, higher than RMB1.84 in the previous year.
Excluding one-time items, earnings were RMB6.92 per share or $1.01 per share, that beat the average estimate of analysts polled by Thomson-Reuters of $0.54 per share. Analysts' estimates typically exclude special items.
Revenue in the quarter was RMB37.637 billion or $15.480 billion, 58% up from RMB23.794 billion last year, primarily due to increase in revenues from online marketing services and transaction services. The consensus estimate was for $4.53 billion.
PDD, currently at $68.20, has traded in the range of $38.80 - $106.38 in the last 1 year.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.