Full Truck Alliance Surges Past Expectations With Strong Q4 Sales, Strategic Repurchases Set New Highs

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Full Truck Alliance Co Ltd (NYSE:YMM) reported fourth-quarter fiscal 2023 sales growth of 25.3% year-over-year to RMB2.408 billion or $339.15 million, beating the consensus of $317.67 million.

Freight matching services revenues rose 24.9 Y/Y, led steady growth in revenues from freight brokerage service and continued expansion in transaction commissions business.

General and administrative expenses declined to RMB266 million from RMB408.2 million last year, reflecting lower share-based compensation expenses and professional service fees.

Adjusted operating income increased 60.6% Y/Y to RMB398.8 million. Adjusted net income per ADS stood at RMB0.69 or $0.10, beating the consensus of $0.08. 

As …

Full story available on Benzinga.com


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