GigaCloud Technology Inc reports results for the quarter ended in September 30 - Earnings Summary

GigaCloud Technology

08/11/2024 05:04

* GigaCloud Technology Inc  GCT.OQ  reported quarterly
adjusted
earnings of 98 cents​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of 59 cents.  The mean expectation of
three analysts for the quarter was for earnings of 67 cents per
share. Wall Street expected results to range from 66 cents to 69
cents per share.
    * Revenue rose 70.2% to $303.32 million from a year ago;
analysts
expected $279.57 million. 
    * GigaCloud Technology Inc's reported EPS for the quarter
was 98
cents​.
    * The company reported quarterly net income of $40.69
million.
    * GigaCloud Technology Inc shares had fallen by 5.3% this
quarter and gained 18.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 8.6%
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 $50.00 
This summary was machine generated from LSEG data November 8 at
05:04 a.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
 Sep. 30 2024      0.67           0.98           Beat
 Jun. 30 2024      0.71           1.03           Beat
 Mar. 31 2024      0.63           0.84           Beat
 Dec. 31 2023      0.58           0.94           Beat