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PDD Holdings shares rise after results beat expectations
The company posted a 12.0% decline in net profits for the three months ended June 30, but still topped Wall Street consensus.
PDD Holdings’ shares rose after the company reported results that beat Wall Street expectations, despite weaker profitability.
MarketWatch said PDD reported a 12.0% decline in net profits for the three months ended June 30, with the figure still coming in above the consensus estimate.
With profits down year over year, investors appeared to focus on the beat versus analyst expectations as the stock reaction followed the earnings release.
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