ATRenew Inc. (NYSE: RERE), a leading pre-owned consumer electronics transactions and services platform in China, witnessed a significant surge of 8.74% in its stock price during Wednesday's pre-market trading session. This rally was fueled by the company's impressive third-quarter 2024 financial results and an optimistic outlook for the fourth quarter.

In the third quarter, ATRenew's revenue grew by a robust 24.4% year-over-year to RMB4,051.2 million (US$577.3 million), driven by strong growth in both product and service segments. The company reported a net income of RMB17.9 million (US$2.6 million), a significant improvement from a net loss in the same period last year. Additionally, adjusted net income (non-GAAP) stood at an impressive RMB90.1 million (US$12.8 million), reflecting ATRenew's continued progress towards profitability.

Looking ahead, ATRenew provided an upbeat outlook for the fourth quarter of 2024, expecting total revenues to be between RMB4,740.0 million and RMB4,840.0 million, representing a year-over-year increase of 22.4% to 24.9%. The company's strong performance and positive outlook, coupled with the growing demand for pre-owned consumer electronics, contributed to the pre-market rally in its stock price.