Temu owner PDD Holdings posted lower profit but still beat Wall Street's expectations

Net income dropped 12% year over year to $4 billion, but analysts had expected a steeper decline

PDD Holdings reported a 12% decline in net profits in the three months ended June 30, surpassing Wall Street consensus.

Chinese e-commerce discounter PDD Holdings PDD.O on Monday reported an 8 per cent rise in second-quarter revenue, missing market estimates, hampered by price competition at home and regulatory challenges abroad.

Temu Owner’s Profit Falls but Beats Expectations  WSJ

Roofing Industries is expected to deliver strong volume growth for Vulcan.