American depositary receipts (ADRs) of Chinese multinational commerce group PDD Holdings (PDD) jumped on higher sales at its e-commerce sites Pind🌞uoduo and Temu.

PDD reported fiscal 2023 second quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of $1.44, with revenue soaring 66% to $7.21 billion. Both were well above forecasts.

Sales from online marketing services and other♐s increased 50% to $5.23 billion, while sales from transaction services skyrocketed 131% to $1.98 billion.

Co-♌CEO Jiazhen Zhao said that the company “saw a positive shift in consumer sentiment, leading to🍰 a rise in demand across various product sectors.”

Sales also got a lift from the use of promotions during the Chinese 618 shopping festival from late May to mid-June. Vice President of Finance Jun Liu added that 🦂PDD “seized the opportunities of favorable consumption trends and invested firmly and responsibly.”

ADRs of PDD Holdings surged over 16% in early trading on Tuesday to their highest level since February.