Dingdong Delivers Poor Results
Chinese fresh grocery e-commerce company Dingdong delivered worse-than-expected results that sent shares tumbling. 🔻
Non-GAAP earnings per American depository share of $0.00 aligned with expectations. However, revenues of $727.7 million fell 15.3% YoY and missed consensus estimates by $93.19 million. Gross merchandise value (GMV) of $793.8 million fell 6.8% YoY. 🛒