Shares of Full Truck Alliance Co. Ltd. (YMM), a digital freight platform, are rising more than 15% Monday morning after reporting better-than-expected third-quarter results.
Net income in the third quarter was RMB618.4 million or $84.8 million, an increase of 56.4% from RMB395.5 million in the same period a year ago. Net income per ADS was RMB0.58 or $0.08, up from RMB0.37 last year.
Excluding one-time items, earnings per ADS was RMB0.78 or $0.11, that beat the average estimate of analysts polled by Thomson-Reuters of $0.08 per share.
Revenue for the quarter increased 25.2% to RMB2.264 billion or $310.3 million. The consensus estimate was for $300.18 million.
YMM, currently at $8.07, has traded in the range of $5.41 – $10.18 in the last 1 year.
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