Temu parent company PDD Holdings saw its revenue grow but its operating profit fall during the second quarter, with executives saying the company is investing in “long-term impact.” PDD Holdings’ revenue grew 7% year over year during the quarter to reach about 104 billion yuan ($14.5 billion), the multinational commerce group said in a Monday (Aug. 25) press release. At the same time, the company’s operating profit dropped by 21% year over year. Executives said in the release that P...
