CCC Intelligent Solutions Holdings Second Quarter 2024 Earnings: Beats Expectations

CCC Intelligent Solutions Holdings (NASDAQ:CCCS) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$232.6m (up 9.9% from 2Q 2023).
• Net income: US$20.2m (up from US$97.7m loss in 2Q 2023).
• Profit margin: 8.7% (up from net loss in 2Q 2023). The move to profitability was primarily driven by lower expenses.
• EPS: US$0.033 (up from US$0.16 loss in 2Q 2023).

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

CCC Intelligent Solutions Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Software industry in the US.

Performance of the American Software industry.

The company's shares are down 6.8% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We've done some analysis and you can see our take on CCC Intelligent Solutions Holdings' balance sheet.

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