Shares of digital freight platform Full Truck Alliance (NYSE:YMM) are on the rise today at the time of publishing after the company announced first-quarter numbers.
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Revenue rose 27.7% year-over-year to $247.9 million, surpassing estimates of $230.14 million. Further, EPS at $0.07 too outperformed expectations of $0.05. During the quarter, the total number of fulfilled orders rose to 30.3 million from 25.2 million a year ago. Simultaneously, average shipper MAUs were 1.75 million versus 1.42 million a year ago.
The company is seeing improved activity among truckers as well as shippers and remains focused on expanding its user base and order volume. Looking ahead, for Q2 2023, Full Truck Alliance sees revenue landing between RMB1.91 billion and RMB2.01 billion.
Today’s price gains come after a nearly 33.2% drop in YMM shares so far this year. Short interest in the stock currently stands at about 4.5%.
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