ATRenew reports mixed Q3 earnings; initiates Q4 revenue guidance

Nov. 22, 2022 3:40 AM ETATRenew Inc. (RERE)By: Meghavi Singh, SA News Editor1 Comment

ATRenew press release (NYSE:RERE): Q3 Non-GAAP EPS of $0.06 beats by $0.04.
Revenue of $356.5M (+29.2% Y/Y) misses by $16.72M.
Total Gross Merchandise Volume increased by 14.5% to RMB9.5 billion from RMB8.3 billion in the third quarter of 2021.
Number of consumer products transacted increased by 5.1% to 8.3 million from 7.9 million in the third quarter of 2021.
For the fourth quarter of 2022, the company currently expects its total revenues to be between RMB2,930.0 million and RMB3,030.0 million.