ATRenew Q2 EPS $0.03 Misses $0.06 Estimate, Sales $408.70M Beat $397.98M Estimate
Portfolio Pulse from Benzinga Newsdesk
ATRenew (NYSE:RERE) reported Q2 earnings of $0.03 per share, missing the analyst consensus estimate of $0.06 by 50%. However, the company reported quarterly sales of $408.70 million, beating the analyst consensus estimate of $397.98 million by 2.69%. This represents a 27.58% increase over sales of $320.35 million the same period last year.
August 23, 2023 | 8:12 am
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NEUTRAL IMPACT
ATRenew's Q2 earnings missed estimates by 50%, but sales exceeded expectations by 2.69% and increased 27.58% YoY.
ATRenew's earnings miss could negatively impact the stock price, but this may be offset by the better-than-expected sales and significant YoY growth. The net effect on the stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100