Lingyi iTech (Guangdong) Second Quarter 2024 Earnings: Misses Expectations

Simply Wall St · 08/31 01:17

Lingyi iTech (Guangdong) (SZSE:002600) Second Quarter 2024 Results

Key Financial Results

  • Revenue: CN¥9.32b (up 15% from 2Q 2023).
  • Net income: CN¥231.3m (down 62% from 2Q 2023).
  • Profit margin: 2.5% (down from 7.4% in 2Q 2023).
  • EPS: CN¥0.032 (down from CN¥0.09 in 2Q 2023).
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SZSE:002600 Earnings and Revenue Growth August 31st 2024

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

Lingyi iTech (Guangdong) Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 4.1%. Earnings per share (EPS) also missed analyst estimates by 40%.

Looking ahead, revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electronic industry in China.

Performance of the Chinese Electronic industry.

The company's shares are up 17% from a week ago.

Valuation

Our analysis of Lingyi iTech (Guangdong) based on 6 different valuation metrics shows it might be overvalued. Click here to view our comprehensive analysis and gain insights into the stock's investment prospects.