PDD Holdings, the parent company of e-commerce platforms Temu and Pinduoduo, reported weaker-than-expected second-quarter revenue, leading to a significant drop in its stock price. The company's revenue for the quarter was 97.06 billion yuan ($13.36 billion), an 86% increase year-over-year but below the market expectation of 99.985 billion yuan. Despite the revenue miss, PDD Holdings reported an adjusted earnings per share (EPS) of 23.24 yuan, exceeding the estimated 20.43 yuan. The company's operating profit also rose by 156% year-over-year to 32.56 billion yuan. However, PDD's stock fell by as much as 30% in pre-market trading, and by 28.5% overall, reflecting investor concerns over the company's future growth prospects amid intensified competition and external challenges. Management has warned that revenue growth will face pressure, impacting profitability. The disappointing earnings report resulted in a $55 billion loss in market value for PDD Holdings.