E-commerce company PDD Holdings , which operates low-cost platforms Pinduoduo in China and Temu internationally, beat quarterly revenue estimates on Monday, although net profit fell due to investments to ward off growing competition.

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.

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.