GUIYANG, China - Full Truck Alliance Co. Ltd. (NYSE:YMM) reported robust third-quarter results that beat analyst expectations, sending shares up 4.2% in early trading.
The digital freight platform posted adjusted earnings per ADS of RMB1.18 ($0.17), surpassing the consensus estimate of RMB0.93. Revenue jumped 33.9% year-over-year to RMB3.03 billion ($432 million), also topping expectations of RMB2.75 billion.
Full Truck Alliance's strong performance was driven by a 22.1% increase in fulfilled orders to 51.9 million and a 33.6% rise in average shipper monthly active users to 2.84 million. Transaction (JO:TCPJ) service revenue saw the highest growth at 68.6% YoY.
"We are pleased to report robust growth in our user base, matching efficiency, freight orders, revenue and profit in the third quarter," said Peter Hui Zhang, Founder, Chairman and CEO.
Looking ahead, the company expects fourth-quarter revenue between RMB2.94 billion and RMB3.00 billion, above the RMB2.73 billion analyst consensus.
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