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Temu owner PDD’s revenue rises

PDD Holdings Inc. revenue rose a stronger-than-expected 66%. The company behind hit shopping app Temu spent to boost sales growth at home and abroad, countering a bumpy post-pandemic recovery. The ecommerce platform reported revenue of 52.3 billion yuan ($7.2 billion) in its fiscal second quarter. It beat the average analyst’s estimate of 43.3 billion yuan. […]

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