Qingdao Gaoce Technology Second Quarter 2024 Earnings: EPS Misses Expectations

Simply Wall St · 08/30 23:48

Qingdao Gaoce Technology (SHSE:688556) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥1.23b (down 2.8% from 2Q 2023).
  • Net income: CN¥61.1m (down 84% from 2Q 2023).
  • Profit margin: 5.0% (down from 30% in 2Q 2023). The decrease in margin was primarily driven by higher expenses.
  • EPS: CN¥0.11 (down from CN¥0.74 in 2Q 2023).
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SHSE:688556 Earnings and Revenue Growth August 30th 2024

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

Qingdao Gaoce Technology EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 75%.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Semiconductor industry in China.

Performance of the Chinese Semiconductor industry.

The company's shares are up 5.3% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 3 warning signs for Qingdao Gaoce Technology (1 makes us a bit uncomfortable) you should be aware of.