When you linking your Twitter Account Market Wire News Trending Stocks news and your Portfolio Stocks News will automatically tweet from your Twitter account.
Be alerted of any news about your stocks and see what other stocks are trending.
RLX Technology Inc. American Depositary Shares each representing the right to receive one (1) Class A
Shares of RLX Technology (NYSE: RLX) sank by as much as 10% today after the company reported first-quarter earnings. As of 11:30 a.m. EDT, the stock was still down 8%.
Revenue in the first quarter increased 48% to $366.1 million, which resulted in adjusted net income of $93.2 million, or $0.06 per American depositary share (ADS). The Chinese consumer discretionary company , which sells vaping products in China, attributed the growth to higher sales to offline distributors. Gross margin expanded to 42.9%, and RLX Technology finished the quarter with $2.2 billion in cash on its balance sheet. Most of that cash was raised in RLX's IPO in January.