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

GigaCloud Technology

06/08/2024 23:47

* GigaCloud Technology Inc  GCT.OQ  reported quarterly
adjusted
earnings of $1.03​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 45 cents.  The mean expectation of two analysts
for the quarter was for earnings of 71 cents per share. 
    * Revenue rose 103% to $310.87 million from a year ago;
analysts
expected $275.47 million. 
    * GigaCloud Technology Inc's reported EPS for the quarter
was 65
cents​.
    * The company reported quarterly net income of $26.97
million.
    * GigaCloud Technology Inc shares had fallen by 18.7% this
quarter and gained 35.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.4%
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 6 "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 $52.94 
This summary was machine generated from LSEG data August 6 at
10:47 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
 Jun. 30 2024      0.71           1.03           Beat
 Mar. 31 2024      0.63           0.84           Beat
 Dec. 31 2023      0.58           0.94           Beat
 Sep. 30 2023      0.38           0.59           Beat