ATRenew Inc. (NYSE: RERE) shares declined 4.77% in pre-market trading on Thursday after the company reported second-quarter earnings that exceeded expectations but provided third-quarter guidance below market forecasts.
The Shanghai-based company posted adjusted earnings per share of RMB0.97 ($0.14), surpassing the RMB0.89 consensus estimate. Total net revenues reached RMB6.61 billion ($974.1 million), a 32.4% increase from RMB4.99 billion in the same period last year, also exceeding the RMB6.37 billion analyst estimate. Net product revenues, driven by higher sales of pre-owned consumer electronics via online channels, climbed 35.9% to RMB6.19 billion ($913.0 million). Adjusted income from operations rose 70.1% year-over-year to RMB206.3 million ($30.4 million), while adjusted net income increased 57.3% to RMB157.1 million ($23.1 million).
Net service revenues, however, declined 4.2% to RMB414.6 million ($61.1 million), attributed to discretionary discounts during the extended "618 promotion period." The company transacted 11.6 million consumer products in the quarter, up from 10.3 million a year earlier.
ATRenew’s outlook for the third quarter projected revenue between RMB6.34 billion and RMB6.44 billion, representing a 23.6% year-over-year increase but falling short of market expectations. The midpoint of RMB6.39 billion was below the anticipated range.
Kerry Xuefeng Chen, founder, chairman, and CEO, highlighted the company’s growth in a statement. "We are pleased to report another strong quarter for ATRenew. In the second quarter of 2026, total net revenues increased by 32.4% year-on-year to RMB6,609.3 million," Chen said.
The earnings report was released on August 20, 2026, at 04:50 AM ET.
