Dada Nexus Shares Slide 17% on 4Q Profit, Revenue Misses

Dow Jones03-27

By Ben Glickman

Shares of Dada Nexus fell after the company's results missed estimates in the fourth quarter.

American depositary receipts of the company were down 17% to $2.11 on Tuesday. Shares are down about 36% since the start of the year.

The Chinese retail and delivery company's revenue rose 2.7% to CNY2.75 billion ($381.1 million) in the fourth quarter, falling short of the CNY3.13 billion forecast by analysts polled by FactSet and below the company's guidance.

Dada Nexus posted a loss of CNY1.28 billion, or CNY1.22 a share, in the quarter ended Dec. 31, compared with a loss of CNY370.6 million, or CNY0.36 a share, a year earlier.

Stripping out certain one-time items, the company's loss came to CNY0.15 a share, compared with the CNY0.34 profit expected by analysts.

The company's board authorized a share buyback program for up to $40 million of American depositary shares over two years.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

March 26, 2024 15:12 ET (19:12 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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