Summary by Moomoo AI
Full Truck Alliance reported strong Q3 2024 results with total net revenues reaching RMB3.03 billion ($432.0 million), up 33.9% YoY. Net income surged 81.4% to RMB1.12 billion ($159.9 million), while non-GAAP adjusted net income grew 50.2% to RMB1.24 billion. Transaction service revenue showed the highest growth at 68.6% YoY.Operational metrics demonstrated robust growth with fulfilled orders increasing 22.1% to 51.9 million and average shipper MAUs rising 33.6% to 2.84 million. The company's dual membership program enhanced user engagement, while digital and intelligent product innovations continued to drive platform efficiency.Looking ahead, FTA expects Q4 2024 revenues between RMB2.94-3.00 billion, representing 22.3-24.8% YoY growth. The company maintains strong liquidity with cash and investments totaling RMB27.3 billion ($3.9 billion) as of September 30, 2024, while the non-performing loan ratio improved to 1.8% from 2.0% at year-end 2023.
