Temu owner PDD misses quarterly revenue estimates

Aug. 24 (Reuters) - Chinese e-commerce discounter PDD Holdings on Monday reported an 8% rise in second-quarter revenue, missing market estimates, hampered by price competition at home and regulatory challenges abroad.

The operator of Pinduoduo in China and Temu elsewhere reported revenue of 112.36 billion yuan ($16.71 billion) for the three months through June 30, versus analysts' average estimate of 116.35 billion yuan, according to data compiled by LSEG.

$1 = 6.7225 Chinese yuan renminbi