Ucloudlink Group Q3 Sales $23.90M Miss $24.00M Estimate; Adjusted Net Income $3.8M Up From $0.6M YoY
Portfolio Pulse from Benzinga Newsdesk
Ucloudlink Group (NASDAQ:UCL) reported Q3 sales of $23.90M, slightly missing the $24.00M estimate, but showing a 31.22% increase from $18.21M in the same period last year. Adjusted net income rose significantly to $3.8M from $0.6M YoY.
November 15, 2023 | 9:04 am
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NEUTRAL IMPACT
Ucloudlink Group's Q3 revenue slightly missed estimates, but showed strong year-over-year growth with a significant increase in adjusted net income.
While Ucloudlink Group missed revenue estimates by a small margin, the substantial year-over-year growth in sales and adjusted net income is likely to be viewed positively by investors. The slight miss may not heavily impact the stock price in the short term, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100