By Tracy Qu

PDD Holdings is scheduled to report first-quarter results on Wednesday. Here's what you need to know:

NET PROFIT FORECAST: The Chinese e-commerce giant likely posted net profit of 22.80 billion yuan, equivalent to $3.35 billion, according to the consensus estimate of analysts polled by FactSet. That compares with 14.72 billion yuan in the year-earlier period.

REVENUE FORECAST: Quarterly revenue is expected to reach 109.95 billion yuan, according to FactSet, up from 95.67 billion yuan a year earlier.

U.S.-listed PDD fell about 10% in the first quarter of 2026. The stock is down 14% year to date.

WHAT TO WATCH:

-- NET PROFIT: Citi analysts lowered their first-quarter net profit forecast by 2.8% to reflect higher general and administrative expenses after the e-commerce giant received a 1.5 billion yuan penalty from Chinese regulators over food safety. Citi expects management to maintain a cautious tone on intense competition, a tightening regulatory environment and pressure on profitability.

--TEMU: Overseas business Temu's global monthly active users reached 193 million as of March, representing 13% year-on-year growth, Citi analysts said. Monthly active users in the U.K. and EU also continued to grow at a solid pace, rising 20% to 40% on average. That suggests user demand in Europe remains relatively strong, Citi said.

Write to Tracy Qu at tracy.qu@wsj.com

(END) Dow Jones Newswires

May 22, 2026 04:05 ET (08:05 GMT)

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