Dada Nexus Posts Q2 Bottomline Above Street View
Portfolio Pulse from Shivani Kumaresan
Dada Nexus Ltd (NASDAQ:DADA) reported Q2 FY23 sales of $401.37 million, missing the analyst consensus of $418.25 million. However, the company posted its first-ever positive quarterly non-GAAP net income, with an adjusted EPS of $0.00, beating the consensus estimate of $(0.02). For Q3, DADA expects net revenues of RMB 2.8 billion - RMB 3.00 billion, representing a 17.6% - 26% growth Y/Y.
August 16, 2023 | 9:44 am
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Dada Nexus reported lower than expected Q2 sales but posted its first-ever positive quarterly non-GAAP net income. The company expects a significant growth in net revenues for Q3.
While Dada Nexus missed Q2 sales estimates, the company's first-ever positive non-GAAP net income is a positive sign. This, along with the expected growth in Q3 revenues, could balance out the impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100