Full Truck Alliance rises as Q2 results beat expectations

Full Truck Alliance

23/08/2023 13:03

** U.S.-listed shares of Chinese digital freight platform
Full Truck Alliance  YMM.N  rise 3.2% to $6.4 premarket 
    ** If gains hold, stock set to open at its highest level
since Aug. 17
        ** Co posts adj. earnings of 9 cents (RMB 0.68) per
American Depository Share, beating analysts' ests of 7 cents/ADS
- Refinitiv 
    ** Q2 net revenue increases 23.5% to $285.4 mln (RMB 2.06
bln), topping ests of $281.9 mln
    ** Reports a 30.5% rise in average monthly active users to 2
mln in Q2 from a year earlier
    ** Forecasts Q3 revenue in the range of RMB 2.16 bln to RMB
2.20 bln
    ** Stock down 22% YTD 
    
($1 = 7.2921 Chinese yuan renminbi)

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))