G-bits Network Technology (Xiamen) Second Quarter 2024 Earnings: EPS Beats Expectations

G-bits Network Technology (Xiamen) (SHSE:603444) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥1.03b (down 14% from 2Q 2023).
• Net income: CN¥264.5m (down 28% from 2Q 2023).
• Profit margin: 26% (down from 31% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥3.66 (down from CN¥5.13 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

G-bits Network Technology (Xiamen) EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 21%.

Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Entertainment industry in China.

Performance of the Chinese Entertainment industry.

The company's shares are up 3.4% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of G-bits Network Technology (Xiamen)'s balance sheet and an in-depth analysis of the company's financial position.

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