- ATRenew Inc RERE reported third-quarter FY22 sales growth of 29.2% year-on-year, to RMB2.5 billion ($356.5 million), missing the consensus of $363.81 million.
- Product revenue increased 33.7% to RMB2.2 billion, and service revenue rose 4.4% to RMB310.3 million.
- Total operating costs and expenses for the quarter climbed 25.4% to RMB2.66 billion.
- The operating loss for the quarter was RMB (110) million versus RMB (150) million last year.
- The company held $375.7 million in cash and equivalents as of September 30, 2022.
- Adjusted net income per ordinary share was RMB0.46 or $0.06, compared to negative RMB (0.14) in the same period of 2021.
- Outlook: The company expects Q4 revenue of RMB2.93 billion - RMB3.03 billion.
- Price Action: RERE shares are trading lower by 6.36% at $1.62 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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