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SHANGHAI - ATRenew Inc. (NYSE: RERE) reported better-than-expected fourth quarter revenue on Monday, sending shares up 6.6% in early trading.
The Chinese technology-driven pre-owned consumer electronics platform posted revenue of $664.4 million, surpassing analyst estimates of $662 million. However, adjusted earnings per share came in at $0.10, slightly below the $0.11 expected.
ATRenew’s total net revenues grew 25.2% YoY to RMB4,849.3 million ($664.4 million) in Q4, exceeding the upper end of the company’s guidance. The strong performance was driven by a 26.6% increase in net product revenues to RMB4,460.6 million ($611.1 million), primarily due to higher sales of pre-owned consumer electronics through online channels.
"Our strong fourth-quarter performance, marked by a 25.2% year-over-year revenue increase to RMB4,849.3 million, exceeded the upper end of our guidance and capped a record year," said Kerry Xuefeng Chen, Founder, Chairman, and CEO of ATRenew.
The company reported adjusted income from operations of RMB131.4 million ($18.0 million), up 61% from RMB81.6 million in the same period last year.
For Q1 2025, ATRenew expects total revenues between RMB4,550 million and RMB4,650 million, representing YoY growth of 24.6% to 27.4%.
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