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PDD MISSES ESTIMATES AS TEMU FACES CHINA HEAT

PDD Holdings, owner of Temu, reported Q1 revenue of $15.7 billion, up 11% year-over-year but below analyst expectations of $16.2 billion. Net profit fell 15% to $1.85 billion, missing estimates of $3.4 billion.

2 SOURCESFIRST SEEN MAY 27, 11:25 AM► READ THE ARTICLE

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Temu owner PDD reports Q1 revenue up 11% YoY to ~$15.7B, below ~$16.2B est., net profit down 15% to ~$1.85B, below ~$3.4B est., amid fierce competition in China (Wall Street Journal)

Wall Street Journal: Temu owner PDD reports Q1 revenue up 11% YoY to ~$15.7B, below ~$16.2B est., net profit down 15% to…

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Sources: the Pentagon is pursuing funding deals with US drone companies, potentially with equity stakes, to increase domestic production and lower unit costs (Wall Street Journal)

Wall Street Journal: Sources: the Pentagon is pursuing funding deals with US drone companies, potentially with equity st…

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