G-bits Network Technology (Xiamen) Third Quarter 2024 Earnings: Misses Expectations

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

Key Financial Results

• Revenue: CN¥858.6m (down 10% from 3Q 2023).
• Net income: CN¥139.7m (down 24% from 3Q 2023).
• Profit margin: 16% (down from 19% in 3Q 2023). The decrease in margin was driven by lower revenue.
• EPS: CN¥1.93 (down from CN¥2.54 in 3Q 2023).

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

G-bits Network Technology (Xiamen) Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.5%. Earnings per share (EPS) also missed analyst estimates by 40%.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Entertainment industry in China.

Performance of the Chinese Entertainment industry.

The company's shares are down 6.3% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for G-bits Network Technology (Xiamen) that you should be aware of.

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