Why GigaCloud Technology Zoomed 23% Higher Today [Yahoo! Finance]
GigaCloud Technology Inc (GCT)
Company Research
Source: Yahoo! Finance
On Friday, the company's shares rocketed more than 23% higher on the back of very encouraging quarterly results. The stock's performance was night-and-day better than that of the S&P 500 index, which slumped to close 0.7% lower. Convincing beats on both the top and bottom lines For its fourth quarter, GigaCloud took in just under $245 million in revenue; this was nearly double the almost $126 million it booked in the same period of 2022. The e-commerce products and services specialist did even better on the bottom line, with net income according to generally accepted accounting principles ( GAAP) rising almost threefold to $35.6 million ($0.87 per share) from $12.5 million in the year-ago quarter. Both headline figures trounced analyst estimates. On average, these anticipated slightly over $224 million in revenue and a mere $0.29 for per-share net income. The nearly $245 million GigaCloud earned on the top line set a new all-time record for quarterly revenue. In its earnings r
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News
- GigaCloud Technology Inc to Announce First Quarter 2024 Financial Results and Host Conference Call on May 9, 2024GlobeNewswire
- GigaCloud Technology Inc. (GCT) Gains As Market Dips: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Pick These 4 Solid Net Profit Margin Stocks for Better Returns [Yahoo! Finance]Yahoo! Finance
- GigaCloud Technology Inc Expands Global Fulfillment Network to Support Continued Growth of Its B2B Marketplace [Yahoo! Finance]Yahoo! Finance
- GigaCloud Technology Inc Expands Global Fulfillment Network to Support Continued Growth of Its B2B MarketplaceGlobeNewswire
GCT
Earnings
- 3/15/24 - Beat
GCT
Sec Filings
- 5/1/24 - Form 4
- 4/30/24 - Form 4
- 4/29/24 - Form 4
- GCT's page on the SEC website