PDD Holdings Inc. (NASDAQ:PDD) posted weaker-than-expected first-quarter results on Tuesday.
PDD Holdings posted first-quarter earnings of $1.56 per share, missing market estimates of $2.49 per share. The company’s sales came in at $13.18 billion versus expectations of $14.17 billion.
“In the first quarter, we made substantial investments in our platform ecosystem to support merchants and consumers amid rapid changes in the external environment,” said Mr. Lei Chen, Chairman and Co-Chief Executive Officer of PDD Holdings. “These investments weighed on short-term profitability but gave merchants the room to adapt and focus on high-quality, sustainable growth, strengthening the long-term health of the platform.”
Box shares gained 18.4% to trade at $36.75 on Wednesday.
These analysts made changes to their price targets on Box following earnings announcement.
Considering buying PDD stock? Here’s what analysts think:
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