PDD's 1Q Revenue Miss Likely Due to Weaker Temu Business -- Market Talk

Dow Jones

May 28, 2025

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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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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 27, 2025 23:36 ET (03:36 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PDD's 1Q Revenue Miss Likely Due to Weaker Temu Business -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPDD's 1Q Revenue Miss Likely Due to Weaker Temu Business -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-05-28 11:36</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 27, 2025 23:36 ET (03:36 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PDD","symbol_name":"拼多多","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2538410346","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2538410346","pubTimestamp":1748403360,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. ","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PDD":"拼多多"},"translate_title":"拼多多第一季度营收可能因Temu业务疲软而未达预期——市场讨论","themeId":"ffc88a87a2088e32a08c6c46ab3498c4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PDD":1},"content_text":"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) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 27, 2025 23:36 ET (03:36 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}