By Deborah Mary Sophia and Casey Hall (Reuters) -E-commerce company PDD Holdings, which operates low-cost platforms Pinduoduo in China and Temu internationally, beat quarterly revenue estimates on Monday,

PDD Holdings Inc. posted better-than-expected results after China’s government ramped up stimulus to galvanize consumers and offset the economic fallout from US tariffs.

PDD Holdings Monday posted second-quarter results that overshot analysts’ estimates even as the parent of the Temu shopping site was hit during the period by the end of a key U.S. tariff exemption.

The American depositary receipts (ADRs) of PDD edged up nearly 0.9% after soaring as much as 4.9% on Monday. Analysts believe that one of factors weighing on profitability is that PDD had to lower fees for merchants amid the growing competition in China.