iFLYTEKLTD Second Quarter 2024 Earnings: Misses Expectations

iFLYTEKLTD (SZSE:002230) Second Quarter 2024 Results

Key Financial Results

• Revenue: CN¥5.68b (up 15% from 2Q 2023).
• Net loss: CN¥100.2m (down by 176% from CN¥131.5m profit in 2Q 2023).
• CN¥0.043 loss per share (down from CN¥0.049 profit in 2Q 2023).

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

iFLYTEKLTD Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Software industry in China.

Performance of the Chinese Software industry.

The company's shares are down 4.6% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for iFLYTEKLTD (1 is potentially serious) you should be aware of.

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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.