Temu Parent PDD First-Quarter Earnings Unexpectedly Decline

[출처/시간] MT Newswires - 8:22 AM ET, 05/27/2026

08:22 AM EDT, 05/27/2026 (MT Newswires) -- PDD's (PDD) first-quarter earnings unexpectedly declined year over year, while the Chinese e-commerce platform's revenue fell short of market estimates.

The company on Wednesday posted adjusted earnings of 9.51 renminbi ($1.38) per American depositary share for the March quarter, down from 11.41 renminbi a year earlier. The consensus on FactSet was for an increase to 16.56 renminbi. Revenue climbed 11% to 106.23 billion renminbi, but trailed the Street's view for 109.82 billion renminbi.

PDD's Nasdaq-listed American depositary receipts dropped nearly 8% in the most recent premarket activity. The company owns the Pinduoduo social commerce platform in China and Temu, an e-commerce marketplace in North America.

"This quarter marks the start of deep transformations in our business, our internal processes and our organization," co-Chief Executive Lei Chen said in a statement. "We are actively stepping up to our responsibilities as a platform enterprise to create greater value for our users, the industries and the society as a whole."

Revenue from online marketing services rose to 49.94 billion renminbi from 48.72 billion renminbi in the prior-year quarter. Transaction services revenue gained 20% to 56.29 billion renminbi.

Cost of revenue amounted to 46.89 billion renminbi versus 40.95 billion renminbi last year due to higher fulfillment and payment processing fees, among other factors. Total operating expenses rose to 39.77 billion renminbi from 38.64 billion renminbi, mainly due to an increase in research and development costs, according to the company.

"We are investing resolutely in our supply chain capabilities," Vice President of Finance Jun Liu said. "These investments are the cornerstone of a resilient and thriving platform ecosystem, and we are prepared to invest over the long term."

Earlier this month, Chinese e-commerce giant Alibaba (BABA) reported lower-than-expected fiscal fourth-quarter earnings and revenue, while JD.com's (JD) first-quarter results beat estimates.