GigaCloud Technology Inc. (GCT) announced a profit for its third quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $40.7 million, or $0.98 per share. This compares with $24.2 million, or $0.59 per share, in last year's third quarter.
Excluding items, GigaCloud Technology Inc. reported adjusted earnings of $1.15 per share for the period.
Analysts on average had expected the company to earn $0.67 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 70.2% to $303.3 million from $178.2 million last year.
GigaCloud Technology Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $40.7 Mln. vs. $24.2 Mln. last year.
-EPS (Q3): $0.98 vs. $0.59 last year.
-Revenue (Q3): $303.3 Mln vs. $178.2 Mln last year.
-Guidance:
Next quarter revenue guidance: $275-$290 mln
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