Earnings PerformanceThe non-GAAP earnings per ADS came in significantly beating consensus by $0.92, demonstrating better than feared profitability.
Market PositionPDD’s differentiated group-buy business has benefited from key competitor exits, further solidifying its market position.
Profitability And EarningsProfitability significantly outpaced expectations, indicating early signs of competitive strength and a more disciplined balance between growth and spending.