0336 GMT - PDD's 1Q revenue miss is likely to have been mostly due to Temu's lower-than-expected transaction revenues, Barclays analysts estimate. PDD doesn't break out revenue for Temu in its earnings report. Despite lower-than-expected Temu revenue, Barclays's estimate for Temu 1Q sales and marketing expenses came in higher than previously expected. That suggests the company may have increased its sales and marketing spend in other parts of the world, as it is essentially exiting the U.S. market for its cross-border full-consignment model, the analysts say. Barclays maintains an overweight call on PDD, with its target price unchanged at $158.00. Its ADRs ended 14% lower at $102.98. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
May 27, 2025 23:36 ET (03:36 GMT)
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