Pinduoduo owner PDD rides discount wave to beat revenue estimates
By Chavi Mehta and Casey Hall (Reuters) – PDD Holdings Inc beat analysts’ estimates for first-quarter revenue on Friday as more price conscious customers turned to its discount e-commerce platforms including Pinduoduo. The company’s U.S.-listed shares rose 14% in trading before the bell. Chinese consumer spending has gained some momentum since the country abandoned strict zero-COVID policies late last year. Retail sales in the country rose 5.8% in the January-March […]