BEIJING (dpa-AFX) - Dingdong (Cayman) Limited (DDL) reported that its net income for the third quarter increased to RMB 133.4 million from RMB 2.1 million, a year ago. Net income per share was RMB 0.40 compared with net breakeven per share. Non-GAAP net income increased to RMB 161.6 million from RMB 15.5 million. Non-GAAP net income per share was RMB 0.49 compared with RMB 0.04. Third quarter revenue was RMB 6.54 billion, a year-over-year increase of 27.2%.
The company has raised expectations for both net profit and scale compared to that in last quarter, and is expecting considerable year-over-year growth for the fourth quarter and this year. The company targets to achieve both non-GAAP and GAAP profits in the fourth quarter and for the entire year of 2024.
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