11:14 AM EDT, 08/20/2024 (MT Newswires) -- ATRenew ( RERE ) shares retreated nearly 13% in recent Tuesday trading after the company posted its Q2 results.

The company reported Q2 adjusted net income Tuesday of 0.48 renminbi ($0.07) per diluted share, up from 0.22 renminbi a year earlier.

An analyst polled by Capital IQ expected 0.50 renminbi.

Net revenue for the quarter was 3.78 billion renminbi, up from 2.96 billion renminbi a year earlier.

An analyst surveyed by Capital IQ expected 3.72 billion renminbi.

The company said it expects Q3 revenue of 3.97 billion renminbi to 4.07 billion renminbi. An analyst surveyed by Capital IQ expects 4.07 billion renminbi.

Price: 2.48, Change: -0.37, Percent Change: -12.85