By Sabela Ojea
Shares of Full Truck Alliance Co. climbed Tuesday after the China-based digital freight platform posted a rise in profit for the third quarter and forecast further revenue growth in the fourth quarter.
At 13:10 ET, the shares were up 13% at $6.95.
The company, which also swung to a profit in the quarter, said its revenue rose 46% to 1.81 billion Chinese Yuan ($253.5 million).
Full Truck Alliance said that it expects to end the last quarter of 2022 with revenue growth of 25% to 32%, to between CNY1.79 billion and CNY1.88 billion.
"We will synchronize the expansion across our existing and incremental business to drive the sustainable growth of our overall business scale and create more value for society while China's logistic industry is shifting to digitalization," founder, Chairman and Chief Executive Peter Hui Zhang said.
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(END) Dow Jones Newswires