Hua Hong Semiconductor Third Quarter 2024 Earnings: Beats Expectations

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

Key Financial Results

• Revenue: US$526.3m (down 7.4% from 3Q 2023).
• Net income: US$44.8m (up 223% from 3Q 2023).
• Profit margin: 8.5% (up from 2.4% in 3Q 2023). The increase in margin was driven by lower expenses.
• EPS: US$0.026 (up from US$0.009 in 3Q 2023).

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

Hua Hong Semiconductor Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 52%.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in Hong Kong.

Performance of the Hong Kong Semiconductor industry.

The company's shares are up 17% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 3 warning signs for Hua Hong Semiconductor (of which 1 can't be ignored!) you should know about.

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