ATRenew Q1 Adjusted Net Income, Revenue Rise; Issues Q2 Outlook -- Shares Rise Pre-Bell

MT Newswires Live05-19

ATRenew (RERE) reported Q1 adjusted net income Tuesday of 0.87 Chinese renminbi ($0.13) per diluted share, up from 0.48 renminbi a year earlier.

An analyst polled by FactSet expected 0.77 renminbi.

Net revenue for the quarter ended March 31 was 6.16 billion renminbi, compared with 4.65 billion renminbi a year earlier.

An analyst surveyed by FactSet expected 5.91 billion renminbi.

The company said it expects Q2 revenue of 6.24 billion renminbi to 6.34 billion renminbi. An analyst surveyed by FactSet expects 6.37 billion renminbi.

Shares of the company were up more than 4% in Tuesday premarket activity.

Price: 4.70, Change: +0.20, Percent Change: +4.44

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