Ucloudlink Group Inc reports results for the quarter ended in June - Earnings Summary

Ucloudlink

14/08/2024 14:51

* Ucloudlink Group Inc  UCL.OQ  reported quarterly adjusted
earnings of 6 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of -2 cents.  The mean expectation of two analysts
for the quarter was for earnings of 2 cents per share. Wall
Street expected results to range from -1 cents to 4 cents per
share.
    * Revenue rose 1.7% to $22.36 million from a year ago;
analysts
expected $22.00 million. 
    * Ucloudlink Group Inc's reported EPS for the quarter was 6
cents​.
    * The company reported quarterly net income of $2.24
million.
    * Ucloudlink Group Inc shares had fallen by 22.0% this
quarter and
lost 17.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 66.7%
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 1 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the wireless
telecommunications services peer group is also "buy"

Wall Street's median 12-month price target for Ucloudlink Group
Inc is $9.50 
This summary was machine generated from LSEG data August 14 at
01:51 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      0.02           0.06           Beat
 Mar. 31 2024      -0.01          0.01           Beat
 Dec. 31 2023      0.05           -0.05          Missed
 Sep. 30 2023      0.03           0.09           Beat