PDD stock rise on Q3 beat as Temu keeps wooing consumers (NASDAQ:PDD)

News Snapshot:

PDD (NASDAQ:PDD) stock rose about 14% in pre-market trading on Tuesday after third-quarter results beat estimates. Meanwhile, several Chinese stocks were trading in the red during pre-market. E-commerce giant Alibaba (BABA), online retailer JD.com (JD), online entertainment services provider Bilibili (BILI) were all down around 1%, internet search giant Baidu (BIDU) was also in the red. PDD's non-GAAP earnings per American depositary shares, or ADS, grew about 34.7% year-over-year to RMB11.61 ($1.55). The Chinese e-commerce giant's total revenues soared nearly 94% year-over-year to RMB68.84B ($9.44B). Both top and bottom lines surpassed analysts estimates. Revenue from online marketing services grew about...