GigaCloud Technology Inc reports results for the quarter ended in September 30 - Earnings Summary

• GigaCloud Technology Inc GCT.OQ reported quarterly adjusted earnings of 98 cents​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 59 cents. The mean expectation of three analysts for the quarter was for earnings of 67 cents per share. Wall Street expected results to range from 66 cents to 69 cents per share.

• Revenue rose 70.2% to $303.32 million from a year ago; analysts expected $279.57 million.

• GigaCloud Technology Inc's reported EPS for the quarter was 98 cents​.

• The company reported quarterly net income of $40.69 million.

• GigaCloud Technology Inc shares had fallen by 5.3% this quarter and gained 18.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 8.6% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy," no "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the online services peer group is also "buy"

Wall Street's median 12-month price target for GigaCloud Technology Inc is $50.00

This summary was machine generated from LSEG data November 8 at 05:04 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)