So-Young International Sees Revenue Boost from Medical Products, Stock Soars
Portfolio Pulse from Anusuya Lahiri
So-Young International Inc (NASDAQ:SY) reported better-than-expected fiscal first-quarter results, with revenue of $44.1 million, beating the analyst consensus estimate of $42.2 million. The company's stock soared 7.69% in premarket trading. Despite a 52% plunge in the last 12 months, the company saw a 23.3% increase in sales of medical products and maintenance services. However, there were declines in information services and reservation services revenues. The company expects second-quarter revenue to be between $52.6 million and $55.4 million.
May 28, 2024 | 1:24 pm
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So-Young International reported better-than-expected Q1 revenue of $44.1 million, leading to a 7.69% increase in premarket trading. The company saw a significant boost in sales of medical products and maintenance services, although there were declines in other revenue streams. The company expects Q2 revenue to be between $52.6 million and $55.4 million.
The better-than-expected revenue and significant growth in medical product sales are positive indicators for the stock. The company's outlook for Q2 revenue also exceeds analyst expectations, contributing to the positive market reaction.
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