Market Overview

Luckin Coffee Falls After Mixed Q2 Earnings

Share:

Luckin Coffee (NASDAQ: LK) reported second-quarter losses of 48 cents per share, which missed the analyst consensus estimate by 5 cents.

The company reported quarterly sales of $132.43 million, which beat the analyst consensus estimate of $130.26 million by 1.67%.

“We are pleased with the performance of our business as we continue to execute against our long-term growth plan,” said CEO Jenny Zhiya Qian. “Total net revenues from products sold increased 698.4% year-over-year, driven by a significant increase in transacting customers, an increase in the average number of items purchased by our transacting customers and higher effective selling prices. We believe this is the result of our distinguished value proposition of delivering our customers high quality, high convenience and high affordability.”

Luckin Coffee shares were trading down 4.7% at $23.39 in Wednesday’s pre-market session. The stock has a 52-week high of $27.12 and a 52-week low of $13.71.

Related Links:

Luckin Coffee Opens Above IPO Price

Elanco Animal Health Reports Mixed Q2 Earnings

 

Related Articles (LK)

View Comments and Join the Discussion!

Posted-In: Earnings News

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com