GigaCloud Tech Q3 EPS $0.59 Up From $0.01 YoY, Sales $178.20M Beat $163.75M Estimate
Portfolio Pulse from Benzinga Newsdesk
GigaCloud Tech (NASDAQ:GCT) reported a significant increase in Q3 earnings per share (EPS) to $0.59, up from $0.01 in the same quarter last year, marking a 5800% increase. Sales for the quarter were $178.20 million, surpassing the analyst consensus estimate of $163.75 million by 8.82% and representing a 39.22% increase from $128.00 million in the same period last year.
November 30, 2023 | 9:15 pm
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POSITIVE IMPACT
GigaCloud Tech's Q3 report shows a substantial increase in EPS and sales, significantly exceeding both last year's figures and analyst estimates.
The impressive growth in both EPS and sales is likely to be viewed positively by investors, potentially leading to a short-term increase in GCT's stock price. The substantial beat on both the top and bottom lines indicates strong company performance and may lead to increased investor confidence.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100