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Pinduoduo-owner PDD Holdings beats quarterly revenue estimates By Reuters

© Reuters. FILE PHOTO: The logo of Chinese e-commerce platform Pinduoduo Inc. is displayed next to the app on a mobile phone, in this illustration picture taken March 22, 2022. REUTERS/Florence Lo/Illustration/

(Reuters) – PDD Holdings Inc beat analysts’ estimates for first-quarter revenue on Friday as more price conscious customers turned to its discount e-commerce platforms including Pinduoduo (NASDAQ:).

The company posted revenue of 37.64 billion yuan ($5.45 billion), compared with analysts’ estimates of 31.98 billion yuan, according to Refinitiv data.

($1 = 6.9121 renminbi)

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