The Chinese owner of bargain-shopping app Temu reported a smaller-than-expected profit decline in 2Q despite revenue growth hitting a three-and-a-half-year low as tariffs and increased support for domestic merchants weighed on profitability.

(Reuters) -Chinese e-commerce firm PDD Holdings beat market estimates for quarterly revenue on Monday, signaling a rebound in domestic demand and improved growth in its international business despite global trade uncertainties.

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.