BEST Inc. Posts Wider Loss In Q2

(RTTNews) - BEST Inc. (BEST) reported a second quarter non-GAAP net loss from continuing operations of RMB 317.2 million compared to a loss of RMB 116.9 million, a year ago. Non-GAAP loss per ADS from continuing operations was RMB 3.63, compared to a loss of RMB 1.43.

Net loss from continuing operations was RMB 337.1 million, compared to a loss of RMB 146.9 million, last year. Loss per ADS from continuing operations was RMB 3.88, compared to a loss of RMB 1.82.

Revenue was RMB 1.93 billion, compared to RMB 3.09 billion, last year. The company said the decrease was primarily due to the winding-down of the BEST UCargo business line and lower volume of Freight and Global due to the COVID-19 pandemic.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.