* Canaan Inc reported a quarterly adjusted loss of 27 cents per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of -47 cents. The mean expectation of three analysts for the quarter was for a loss of 5 cents per share. Wall Street expected results to range from -13 cents to -1 cents per share.
* Revenue rose 120.9% to $73.61 million from a year ago; analysts expected $72.84 million.
* Canaan Inc's reported EPS for the quarter was a loss of 27 cents.
* The company reported a quarterly loss of $75.58 million.
* Canaan Inc shares had risen by 57.4% this quarter and lost 31.2% so far this year.
FORECAST CHANGES
* The mean earnings estimate of analysts had fallen by about 400% 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 4 "strong buy" or "buy," no "hold" and no "sell" or "strong sell."
* The average consensus recommendation for the computer hardware peer group is also "buy"
Wall Street's median 12-month price target for Canaan Inc is $2.50 This summary was machine generated from LSEG data November 20 at 02:31 p.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) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,
MISSED
Sep. 30 2024 -0.05 -0.27 Missed
Jun. 30 2024 -0.02 -0.01 Beat
Dec. 31 2023 -0.19 -0.55 Missed
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