By Arsheeya Bajwa and Casey Hall

The logo of Temu, an e-commerce platform owned by PDD Holdings. REUTERS

Reuters) -Chinese e-commerce firm PDD Holdings (PDD.O) missed Wall Street estimates for first-quarter revenue on Tuesday, as its domestic platform suffered from persistently weak consumer sentiment and its international business was hit by global trade uncertainty.

U.S.-listed shares of the company fell more than 15% in premarket trading.

Despite deep price cuts by retailers and government stimulus measures to boost spending, a prolonged property crisis in the world's second-largest economy has cast a shadow over consumer spending in China, even on PDD's Pinduoduo, which has out-performed peers with its low-price focus.

China's largest online e-commerce platforms - Alibaba, Pinduoduo and JD.com - have been scrambling for a greater share of the domestic market, sparking a long-running price war to entice consumers to open their wallets.

Alibaba's quarterly revenue also missed estimates, although JD.com notched a beat, buoyed by a government trade-in scheme focused on its strongest categories, including home appliances and electronics.

Both Pinduoduo and global site Temu leverage PDD's extensive network of suppliers in China to provide products at low prices.

PDD reported revenue of 95.67 billion yuan ($13.30 billion) for the quarter ended March 31, compared with analysts' average estimate of 102.51 billion yuan, according to data compiled by LSEG.

Net income fell 47% to 14.74 billion yuan from 28 billion yuan a year earlier.

The United States and China's tit-for-tat tariff escalation, followed by a temporary 90-day de-escalation has generated widespread uncertainty.

The U.S. earlier this month slashed tariff rates for goods from China valued at under $800 entering the country under the "de minimis" provision, a trade exemption leveraged by Temu to avoid tariffs and keep prices low. But shifting global trade policy might make it difficult for Temu to avoid price increases in future.

($1 = 7.1949 Chinese yuan renminbi)

(Reporting by Arsheeya Bajwa in Bengaluru and Casey Hall in Shanghai; Editing by Murali Anantharaman and Shinjini Ganguli, Kirsten Donovan)

Reuters report

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