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HONG KONG — Chinese e-commerce giant PDD Holdings’ revenue increased 93% in the July-September quarter to 68.84 billion yuan ($9.66 billion), well ahead of Wall Street’s consensus, sending the Temu bargain app operator’s New York-listed shares 18% higher in early trading Tuesday.
Online marketing services and transaction services, which surged 39% and 315%, respectively, drove the rise in revenue. The increased revenue for transaction services was partially due to the contribution from Temu, PDD’s cross-border e-commerce platform that ships goods from China to overseas buyers.
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