Dingdong [Cayman] Ltd ADR Down 11.71% To $1.90 After Earnings

Dingdong [Cayman] Ltd ADR (DDL) said before open Friday that it broke even in quarter two 2023.

In the same quarter a year ago, the company earned $0.01 per share on revenue of $990.5 million.

The stock is down 11.71% to $1.90 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

Trading in the five days leading up to the report earned Dingdong [Cayman] Ltd ADR a Neutral Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 38. Meanwhile, the average Wall Street analyst rated the stock a Hold.

Dingdong (Cayman) Ltd is the fastest growing on-demand e-commerce company in China. It directly provides users and households with fresh produce, meat and seafood, and other daily necessities through a convenient shopping experience supported by an extensive self-operated frontline fulfillment grid. It recognizes revenues from product sales of fresh groceries and other daily necessities through Dingdong Fresh APP and mini-programs and membership services.