GigaCloud Tech Q2 2024 GAAP EPS $0.65 Misses $0.67 Estimate, Sales $310.867M Beat $275.467M Estimate
Portfolio Pulse from Benzinga Newsdesk
GigaCloud Tech (NASDAQ:GCT) reported Q2 2024 earnings per share (EPS) of $0.65, missing the analyst estimate of $0.67. However, the company reported sales of $310.867 million, surpassing the estimate of $275.467 million and marking a 103.01% increase from the same period last year.
August 06, 2024 | 8:56 pm
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GigaCloud Tech reported Q2 2024 EPS of $0.65, missing the $0.67 estimate, but achieved sales of $310.867M, beating the $275.467M estimate and showing a 103.01% YoY increase.
While GigaCloud Tech missed EPS estimates slightly, the significant beat on sales and impressive year-over-year growth are likely to have a positive short-term impact on the stock price.
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