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

• GigaCloud Technology Inc GCT.OQ reported quarterly adjusted earnings of 91 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $1.03. The mean expectation of three analysts for the quarter was for earnings of 42 cents per share. Wall Street expected results to range from 37 cents to 46 cents per share.

• Revenue rose 3.8% to $322.61 million from a year ago; analysts expected $290.08 million.

• GigaCloud Technology Inc's reported EPS for the quarter was 91 cents​.

• The company reported quarterly net income of $34.55 million.

• GigaCloud Technology Inc shares had risen by 10.8% this quarter and gained 18.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 33.1% 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 2 "strong buy" or "buy," 1 "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 $26.00, about 14.8% above its last closing price of $22.15

This summary was machine generated from LSEG data August 8 at 03:41 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)