GigaCloud Technology Third Quarter 2024 Earnings: Beats Expectations

GigaCloud Technology (NASDAQ:GCT) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$303.3m (up 70% from 3Q 2023).
• Net income: US$40.7m (up 68% from 3Q 2023).
• Profit margin: 13% (in line with 3Q 2023).
• EPS: US$0.98 (up from US$0.59 in 3Q 2023).

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

GigaCloud Technology Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) also surpassed analyst estimates by 47%.

Looking ahead, revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Retail Distributors industry in the US.

Performance of the American Retail Distributors industry.

The company's shares are up 2.1% from a week ago.

Risk Analysis

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

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