Summary by Moomoo AI
Full Truck Alliance reported strong Q2 2024 financial results with total net revenues reaching RMB2.76 billion ($380.4 million), up 34.1% YoY. Net income increased 38.0% to RMB840.5 million ($115.7 million), while non-GAAP adjusted net income rose 34.3% to RMB970.9 million. Fulfilled orders grew 22.0% to 49.1 million, with average shipper MAUs up 32.8% to 2.65 million.The company's freight matching services revenue increased 34.4% YoY to RMB2.33 billion, driven by 63.4% growth in transaction service revenue and 22.7% growth in freight brokerage service. Value-added services revenue rose 32.0% to RMB435.6 million due to growing demand for credit solutions.Looking ahead, FTA expects Q3 2024 revenues between RMB2.76-2.82 billion, representing YoY growth of 21.9-24.6%. Management remains confident in achieving progress across various businesses while maintaining growth in both scale and profits, focusing on improving service quality and creating greater user value.
