Atour Lifestyle Shares Rise After Higher Q1 Results, Approval of Share Buyback Program

MT Newswires Live

May 23

Atour Lifestyle (ATAT) shares were up 10.5% in recent Thursday trading after the company reported higher Q1 adjusted net income and revenue as its board authorized a three-year $400 million share buyback program.

The company reported Q1 adjusted net income of 0.82 Chinese renminbi ($0.11) per ordinary share on revenue of 1.90 billion renminbi, higher than 0.63 renminbi and 1.47 billion renminbi, respectively, a year earlier.

The company's revenue for the quarter ended March 31 also topped analyst consensus of 1.88 billion renminbi.

Additionally, the company said its board also approved a dividend of $0.14 per ordinary share, or $0.42 per American depositary share, payable June 18 to shareholders of record as of June 2.

Price: 33.36, Change: +3.18, Percent Change: +10.54

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