Stock Track | ATRenew Shares Tumble Over 10% as Q2 Earnings Disappoint

Stock Track08-20

Shares of ATRenew Inc. (NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, plunged over 10% in intraday trading on Monday. The steep sell-off came after the company reported disappointing second-quarter 2024 financial results, with earnings falling significantly short of analyst expectations.

ATRenew reported adjusted earnings per share (EPS) of $0.07 for the quarter, missing the consensus estimate of $0.50 by a wide margin. While the company's revenue of $519.7 million surpassed estimates slightly, it represented a slower year-over-year growth rate of 27.2%, compared to the same period last year.

The weaker-than-expected earnings performance and decelerating revenue growth appear to have dampened investor sentiment, leading to the sharp sell-off. Analysts had anticipated stronger profitability from ATRenew, given the company's expanding presence in the pre-owned electronics market and its growing operational scale.

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(NYSE: RERE), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, plunged over 10% in intraday trading on Monday. The steep ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"RERE","symbol_name":"万物新生","start_time":0,"source_url":"","article_id":"1154183417","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1154183417","pubTimestamp":1724160974,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of ATRenew Inc. , a leading technology-driven pre-owned consumer electronics transactions and services platform in China, plunged over 10% in intraday trading on Monday. 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