GEM Second Quarter 2024 Earnings: Beats Expectations

Simply Wall St · 08/30 23:38

GEM (SZSE:002340) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥8.98b (up 32% from 2Q 2023).
  • Net income: CN¥245.4m (up 1.9% from 2Q 2023).
  • Profit margin: 2.7% (down from 3.5% in 2Q 2023).
  • EPS: CN¥0.05.
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SZSE:002340 Earnings and Revenue Growth August 30th 2024

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

GEM Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 17%. Earnings per share (EPS) also surpassed analyst estimates by 40%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 9.3% growth forecast for the Metals and Mining industry in China.

Performance of the Chinese Metals and Mining industry.

The company's shares are up 5.5% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 3 warning signs for GEM (2 are concerning) you should be aware of.