Full Truck Alliance (NYSE: YMM) saw its stock price plummet 5.03% in pre-market trading on Monday following the release of its third-quarter 2025 financial results. Despite beating revenue expectations, the company's earnings per share fell short of analysts' estimates, raising concerns among investors.
The digital freight platform reported total net revenues of RMB3,358.2 million (US$471.7 million) for Q3, representing a 10.8% year-over-year increase and surpassing the FactSet consensus estimate of RMB3.12 billion. However, the company's adjusted earnings per ADS came in at RMB0.93 (US$0.13), down from RMB1.17 in the same period last year and below the FactSet estimate of RMB1.08.
Despite the earnings miss, Full Truck Alliance showcased strong operational metrics, with fulfilled orders increasing by 22.3% year-over-year and average shipper MAUs rising by 17.6%. The company's transaction service revenue, a core growth driver, surged 39.0% compared to the previous year. Looking ahead, Full Truck Alliance provided Q4 revenue guidance ranging from RMB3.08 billion to RMB3.18 billion, indicating continued growth expectations despite the current market reaction.