How Temu parent PDD dethroned Alibaba to become China's most valuable e-commerce company

📆 29/05/2024 00:39:00
📰 CNBC

⏱ Reading Time:
30 sec. here
7 min. at publisher
📊 Quality Score:
News: 32%
Publisher: 72%

Internet Notícia

Technology,Alibaba Group Holding Ltd,Alibaba Group Holding Ltd

PDD Holdings reported stellar first-quarter results last week, sending its shares surging and driving its market-cap past that of rival Alibaba Group.

PDD's value-for-money positioning and growth of its Temu marketplace has helped the tech giant lead China's e-commerce arena, analysts said.

PDD's net income attributable to ordinary shareholders in the March quarter surged 246%, while that of Alibaba plunged 86%. "We think Temu's profitability will improve faster than previously estimated due to its introduction of the half consignment model, under which logistics costs will be borne by merchants," Morningstar said in a

Goldman Sachs on Friday raised PDD's rating to "buy" from "neutral," noting the firm's continued growth momentum in advertising revenue in the first quarter as well as Temu's potential.

Escrever Comentário

Resumimos esta notícia para que você possa lê-la rapidamente. Se você se interessou pela notícia, pode ler o texto completo aqui. Consulte Mais informação:

Brasil Últimas Notícias, Brasil Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Alibaba stock: Analysts are out with their earnings previewAlibaba stock: Analysts are out with their earnings preview
Fonte: Investingcom - 🏆 450. / 53 Consulte Mais informação »