Canaan Clocks 507% Revenue Growth In Q2, Expands Margin

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Canaan Clocks 507% Revenue Growth In Q2, Expands Margin

Benzinga2021-09-15

Computing solutions provider Canaan Inc (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.
A substantial increase in total computing power sold drove the numbers. Total computing power sold increased 126.9% Y/Y to 5.9 million Thash/s. The rise in the number of Bitcoin mining machines delivered due to solid market demand drove the Y/Y growth.
Products revenue grew 562.5% Y/Y to $167.2 million.
The gross margin expanded by 1,519 bps to 39.5%. Net earnings per ADS was $0.22.
Canaan held $189.0 million in cash and equivalents.
Director Jiaxuan Li stepped down from the board for personal reasons, effective September 15.
Outlook: Canaan sees sequential revenue growth of 10% - 30% for Q3.
Price Action: CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.

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rogerl
·2021-09-16
Great
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skyteoh83
·2021-09-15
Wow, good high
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Net earnings per ADS was $0.22.</li>\n<li>Canaan held $189.0 million in cash and equivalents.</li>\n<li>Director Jiaxuan Li stepped down from the board for personal reasons, effective September 15.</li>\n<li><strong>Outlook:</strong> Canaan sees sequential revenue growth of 10% - 30% for Q3.</li>\n<li><strong>Price Action:</strong> CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.</li>\n</ul>\n</body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Canaan Clocks 507% Revenue Growth In Q2, Expands Margin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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Total computing power sold increased 126.9% Y/Y to 5.9 million Thash/s. The rise in the number of Bitcoin mining machines delivered due to solid market demand drove the Y/Y growth.</li>\n<li>Products revenue grew 562.5% Y/Y to $167.2 million.</li>\n<li>The gross margin expanded by 1,519 bps to 39.5%. Net earnings per ADS was $0.22.</li>\n<li>Canaan held $189.0 million in cash and equivalents.</li>\n<li>Director Jiaxuan Li stepped down from the board for personal reasons, effective September 15.</li>\n<li><strong>Outlook:</strong> Canaan sees sequential revenue growth of 10% - 30% for Q3.</li>\n<li><strong>Price Action:</strong> CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.</li>\n</ul>\n</body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Canaan Clocks 507% Revenue Growth In Q2, Expands Margin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCanaan Clocks 507% Revenue Growth In Q2, Expands Margin\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-09-15 18:22</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><ul>\n<li>Computing solutions provider <strong>Canaan Inc</strong> (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.</li>\n<li>A substantial increase in total computing power sold drove the numbers. Total computing power sold increased 126.9% Y/Y to 5.9 million Thash/s. The rise in the number of Bitcoin mining machines delivered due to solid market demand drove the Y/Y growth.</li>\n<li>Products revenue grew 562.5% Y/Y to $167.2 million.</li>\n<li>The gross margin expanded by 1,519 bps to 39.5%. Net earnings per ADS was $0.22.</li>\n<li>Canaan held $189.0 million in cash and equivalents.</li>\n<li>Director Jiaxuan Li stepped down from the board for personal reasons, effective September 15.</li>\n<li><strong>Outlook:</strong> Canaan sees sequential revenue growth of 10% - 30% for Q3.</li>\n<li><strong>Price Action:</strong> CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.</li>\n</ul>\n</body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAN":"嘉楠科技"},"source_url":"https://www.benzinga.com/news/earnings/21/09/22946198/canaan-clocks-507-revenue-growth-in-q2-expands-margin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167560402","content_text":"Computing solutions provider Canaan Inc (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.\nA substantial increase in total computing power sold drove the numbers. Total computing power sold increased 126.9% Y/Y to 5.9 million Thash/s. The rise in the number of Bitcoin mining machines delivered due to solid market demand drove the Y/Y growth.\nProducts revenue grew 562.5% Y/Y to $167.2 million.\nThe gross margin expanded by 1,519 bps to 39.5%. Net earnings per ADS was $0.22.\nCanaan held $189.0 million in cash and equivalents.\nDirector Jiaxuan Li stepped down from the board for personal reasons, effective September 15.\nOutlook: Canaan sees sequential revenue growth of 10% - 30% for Q3.\nPrice Action: CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":882534594,"gmtCreate":1631705786718,"gmtModify":1676530613467,"author":{"id":"3581724553287100","authorId":"3581724553287100","authorIdStr":"3581724553287100","name":"skyteoh83","avatar":"https://static.tigerbbs.com/648e17130750543b89013fdc44999725","vip":1,"crmLevel":2,"crmLevelSwitch":1,"idStr":"3581724553287100"},"htmlText":"Wow, good high","listText":"Wow, good high","text":"Wow, good high","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882534594","repostId":2167560402,"repostType":2,"repost":{"id":"2167560402","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1631701330,"share":"https://ttm.financial/m/news/2167560402?lang=&edition=fundamental","pubTime":"2021-09-15 18:22","market":"us","language":"en","title":"Canaan Clocks 507% Revenue Growth In Q2, Expands Margin","url":"https://stock-news.laohu8.com/highlight/detail?id=2167560402","media":"Benzinga","summary":"\n","content":"<html><body><ul>\n<li>Computing solutions provider <strong>Canaan Inc</strong> (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.</li>\n<li>A substantial increase in total computing power sold drove the numbers. Total computing power sold increased 126.9% Y/Y to 5.9 million Thash/s. The rise in the number of Bitcoin mining machines delivered due to solid market demand drove the Y/Y growth.</li>\n<li>Products revenue grew 562.5% Y/Y to $167.2 million.</li>\n<li>The gross margin expanded by 1,519 bps to 39.5%. Net earnings per ADS was $0.22.</li>\n<li>Canaan held $189.0 million in cash and equivalents.</li>\n<li>Director Jiaxuan Li stepped down from the board for personal reasons, effective September 15.</li>\n<li><strong>Outlook:</strong> Canaan sees sequential revenue growth of 10% - 30% for Q3.</li>\n<li><strong>Price Action:</strong> CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.</li>\n</ul>\n</body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Canaan Clocks 507% Revenue Growth In Q2, Expands Margin</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCanaan Clocks 507% Revenue Growth In Q2, Expands Margin\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-09-15 18:22</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><ul>\n<li>Computing solutions provider <strong>Canaan Inc</strong> (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.</li>\n<li>A substantial increase in total computing power sold drove the numbers. Total computing power sold increased 126.9% Y/Y to 5.9 million Thash/s. The rise in the number of Bitcoin mining machines delivered due to solid market demand drove the Y/Y growth.</li>\n<li>Products revenue grew 562.5% Y/Y to $167.2 million.</li>\n<li>The gross margin expanded by 1,519 bps to 39.5%. Net earnings per ADS was $0.22.</li>\n<li>Canaan held $189.0 million in cash and equivalents.</li>\n<li>Director Jiaxuan Li stepped down from the board for personal reasons, effective September 15.</li>\n<li><strong>Outlook:</strong> Canaan sees sequential revenue growth of 10% - 30% for Q3.</li>\n<li><strong>Price Action:</strong> CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.</li>\n</ul>\n</body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAN":"嘉楠科技"},"source_url":"https://www.benzinga.com/news/earnings/21/09/22946198/canaan-clocks-507-revenue-growth-in-q2-expands-margin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167560402","content_text":"Computing solutions provider Canaan Inc (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.\nA substantial increase in total computing power sold drove the numbers. Total computing power sold increased 126.9% Y/Y to 5.9 million Thash/s. The rise in the number of Bitcoin mining machines delivered due to solid market demand drove the Y/Y growth.\nProducts revenue grew 562.5% Y/Y to $167.2 million.\nThe gross margin expanded by 1,519 bps to 39.5%. Net earnings per ADS was $0.22.\nCanaan held $189.0 million in cash and equivalents.\nDirector Jiaxuan Li stepped down from the board for personal reasons, effective September 15.\nOutlook: Canaan sees sequential revenue growth of 10% - 30% for Q3.\nPrice Action: CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":1,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}