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- Benzinga
Alibaba Rival PDD's Explosive Growth Continues, Revenue More Than Doubles
PDD Holdings Inc (NASDAQ:PDD) reported fiscal first-quarter 2024 revenue growth of 131% year-on-year to $12.02 billion (86.81 billion Chinese yuan), beating the analyst consensus estimate of $10.65 billion. The Chinese online retailer’s adjusted earnings per ADS of $2.83 (CNY20.72) increased from CNY6.92 Y/Y, beating the analyst consensus estimate of $1.42. Revenues from online marketing services and others rose 56% Y/Y to $5.88 billion. Also Read: Why Are Chinese Stocks Including Baidu, JD And
- South China Morning Post
China's 618 shopping festival: Alibaba touts early sales after withholding data last year, a sign of brighter outlook
Alibaba Group Holding and other e-commerce operators have released encouraging early sales data from their midyear 618 promotions - China's biggest shopping season after Singles' Day, and a bellwether of consumer sentiment in the world's second-largest economy. Four hours after Alibaba's Taobao and Tmall shopping platforms launched their sales event at 8pm on Monday, 59 brands each saw their gross merchandise value (GMV) - the value of goods sold - surpass 100 million yuan (US$13.8 million), whi
- Fortune
The race to lead China’s AI sector heats up as ByteDance, Alibaba and Baidu offer their models at rock-bottom prices
China's AI providers are slashing prices after TikTok-owned ByteDance unveiled new AI models that it claimed cost 99% less than the competition.
