Anker Innovations Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Simply Wall St · 08/30 22:35

Anker Innovations (SZSE:300866) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥5.27b (up 42% from 2Q 2023).
  • Net income: CN¥561.4m (up 9.2% from 2Q 2023).
  • Profit margin: 11% (down from 14% in 2Q 2023). The decrease in margin was driven by higher expenses.
  • EPS: CN¥1.06 (up from CN¥0.98 in 2Q 2023).
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SZSE:300866 Earnings and Revenue Growth August 30th 2024

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

Anker Innovations Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 16%. Earnings per share (EPS) missed analyst estimates by 3.5%.

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

Performance of the Chinese Tech industry.

The company's shares are up 15% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for Anker Innovations that you should be aware of.