37 Interactive Entertainment Network Technology Group Third Quarter 2024 Earnings: Misses Expectations

37 Interactive Entertainment Network Technology Group (SZSE:002555) Third Quarter 2024 Results

Key Financial Results

• Revenue: CN¥4.11b (down 4.1% from 3Q 2023).
• Net income: CN¥632.8m (down 35% from 3Q 2023).
• Profit margin: 15% (down from 23% in 3Q 2023). The decrease in margin was primarily driven by higher expenses.
• EPS: CN¥0.29 (down from CN¥0.44 in 3Q 2023).

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

37 Interactive Entertainment Network Technology Group Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 6.2%. Earnings per share (EPS) also missed analyst estimates by 11%.

Looking ahead, revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Entertainment industry in China.

Performance of the Chinese Entertainment industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for 37 Interactive Entertainment Network Technology Group that you should be aware of before investing here.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.