Full Truck Alliance Co. Ltd. ( NYSE: YMM ) gained in early trading on Thursday after postings its Q2 earnings report.
The online commercial freight platform noted a gradual improvement in user engagement levels after new user registration on its Yunmanman and Huochebang apps started to resume in late June. YMM expects to record stronger user growth and higher transaction volume in the coming quarters.
Guidance was for Q3 revenue to be between RMB1.65B and RMB1.73B, representing a year-over-year growth rate of approximately 32.9% to 39.2% vs. estimated growth of 31.95% Y/Y.
"As we head into the second half of 2022, we are confident that our strong cash position will support us as we pursue user value creation and navigate the complex market dynamics."
Shares of Full Truck Alliance ( YMM ) rallied 4.14% to $7.29 in the premarket session. The stock has traded in a range of $4.12 to $19.27 over the last 52 weeks.
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Full Truck Alliance powers higher after pointing to improve user growth