GigaCloud Technology Inc reports results for the quarter ended in January - Earnings Summary

GigaCloud Technology

09/05/2024 14:32

* GigaCloud Technology Inc  GCT.OQ  reported quarterly
adjusted
earnings of 84 cents​​ per share for the quarter ended in
January.  The mean expectation of two analysts for the quarter
was for earnings of 63 cents per share. Wall Street expected
results to range from 51 cents to 74 cents per share.
    * Revenue was $67.42 million​; analysts expected $243.00
million. 
    * GigaCloud Technology Inc's reported EPS for the quarter
was 66
cents​.
    * The company reported quarterly net income of $27.2
million.
    * GigaCloud Technology Inc shares had risen by 46.5% this
quarter and gained 113.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 68.9%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the online
services
peer group is also "buy"

Wall Street's median 12-month price target for GigaCloud
Technology Inc is $40.50 
This summary was machine generated from LSEG data May 9 at 01:32
p.m. UTC. ​All figures in US dollars unless otherwise stated.
(For questions concerning the data in this report, contact
Estimates.Support@lseg.com. For any other questions or feedback,
contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.63           0.84           Beat
 Dec. 31 2023      0.58           0.94           Beat
 Sep. 30 2023      0.38           0.59           Beat
 Jun. 30 2023      0.37           0.45           Beat