Hua Hong Semiconductor Second Quarter 2024 Earnings: Revenues Disappoint

Hua Hong Semiconductor (HKG:1347) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$478.5m (down 24% from 2Q 2023).
• Net income: US$6.67m (down 92% from 2Q 2023).
• Profit margin: 1.4% (down from 12% in 2Q 2023). The decrease in margin was driven by lower revenue.
• EPS: US$0.004 (down from US$0.06 in 2Q 2023).

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

Hua Hong Semiconductor Revenues Disappoint

Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Semiconductor industry in Hong Kong.

Performance of the Hong Kong Semiconductor industry.

The company's shares are down 3.9% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Hua Hong Semiconductor that you should be aware of.

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