Chagee Holdings Shares Rise 7% Despite Lower Q3 Earnings

(RTTNews) - Chagee Holdings Limited (CHA) gained 6.76 percent, rising $0.95 to $15.09 on Friday even after the company reported lower third-quarter earnings. Net income fell to RMB394.212 million, or RMB2.03 per share, from RMB613.824 million, or RMB3.70 per share, a year ago. Adjusted earnings were RMB502.767 million, or RMB2.57 per share. Revenue declined 9.4% to RMB3.208 billion from RMB3.541 billion last year.

The stock is trading at $15.09, compared with a previous close of $14.13 on the Nasdaq. Shares have moved between $14.50 and $15.49 so far today, with volume at about 0.71 million shares.

Chagee's 52-week range is $13.04 to $41.80.