09:48 AM EST, 03/07/2024 (MT Newswires) -- (Updates with share buyback plan in sixth paragraph, stock move in seventh paragraph.)

Full Truck Alliance ( YMM ) reported Q4 non-GAAP earnings Thursday of 0.69 renminbi ($0.10) per diluted American depositary share, up from 0.42 renminbi a year earlier.

Three analysts polled by Capital IQ expected 0.62 renminbi.

Revenue for the quarter ended Dec. 31 was 2.41 billion renminbi, up from 1.92 billion renminbi a year earlier.

Three analysts surveyed by Capital IQ expected 2.3 billion renminbi.

For Q1, the Chinese commercial freight company said it expects revenue of 2.11 billion renminbi to 2.16 billion renminbi. Analysts surveyed by Capital IQ expect 2.08 billion renminbi.

The company also said that under its share buyback plan it has repurchased about 30.7 million American depositary shares for about $200 million in the open market as of March 6. The program was approved by the board on March 3, 2023 to repurchase up to $500 million of its ADSs for up to 12 months, starting from March 13, 2023, the company said.

Full Truck Alliance ( YMM ) shares were down more than 5% in recent trading.

Price: 6.25, Change: -0.17, Percent Change: -2.65