Temu operator PDD Holdings beats revenue estimates as year-end promotions boost sales

Temu operator PDD Holdings beats revenue estimates as year-end promotions boost sales

FILE PHOTO: The logo of Temu, an e-commerce platform owned by PDD Holdings, is seen on a mobile phone displayed in front of its website, in this illustration picture taken April 26, 2023. REUTERS/Florence Lo/Illustration/File Photo

Low-cost e-commerce giant PDD Holdings beat Wall Street estimates for fourth-quarter revenue on Wednesday, driven by the robust growth of its global platform Temu and end-of-year sales festivals in China, including Singles Day.