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Update: ATRenew Shares Fall After Lower-Than-Expected Q3 Revenue Guidance

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(Updates with the latest stock price movement in the headline and the first paragraph.)

ATRenew (RERE) shares fell over 11% on Thursday after the company's Q3 revenue guidance fell short of analysts' estimates.

The company reported Q2 adjusted net income of 0.97 Chinese renminbi ($0.14) per diluted share, up from 0.61 renminbi a year earlier.

Two analysts polled by FactSet expected 0.72 Chinese renminbi.

Net revenue for the quarter ended June 30 was 6.61 billion Chinese renminbi, compared with 4.99 billion Chinese renminbi a year earlier.

Two analysts expected 6.32 billion Chinese renminbi.

For Q3, the company expects revenue of 6.34 billion Chinese renminbi to $6.44 billion Chinese renminbi.

Two analysts expect 6.50 billion Chinese renminbi.

Price: $4.05, Change: $-0.54, Percent Change: -11.76%

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