ATRenew Inc. Sponsored ADR (RERE.US) Q3 revenue increased by 24% year-on-year, turning a loss into a profit.

ATRenew Inc. Sponsored ADR (RERE.US) announced its third-quarter performance. The data shows that the company had a Q3 revenue of 4.051 billion yuan, a year-on-year increase of 24.4%, exceeding market expectations; net profit was 17.9 million yuan, compared to a net loss of 44.2 million yuan in the same period last year; basic and diluted earnings per share were 0.11 yuan, compared to a loss per share of 0.27 yuan in the same period last year. By business segment, product revenue was 3.672 billion yuan, a year-on-year increase of 25.6%; service revenue was 3.79 billion yuan, a year-on-year increase of 13.9%. The number of consumer goods transactions was 9.1 million, compared to 8.2 million in the same period last year. Looking ahead, ATRenew Inc. Sponsored ADR expects fourth-quarter revenue to be between 4.74 billion yuan and 4.84 billion yuan, a year-on-year increase of 22.4% to 24.9%.