GigaCloud Technology: CFO David Lau to Resign Effective Aug. 19 >GCT

• GigaCloud Technology Inc GCT.OQ reported quarterly adjusted earnings of $1.03​​ per share for the quarter ended in June, higher than the same quarter last year, when the company reported EPS of 45 cents. The mean expectation of two analysts for the quarter was for earnings of 71 cents per share.

• Revenue rose 103% to $310.87 million from a year ago; analysts expected $275.47 million.

• GigaCloud Technology Inc's reported EPS for the quarter was 65 cents​.

• The company reported quarterly net income of $26.97 million.

• GigaCloud Technology Inc shares had fallen by 18.7% this quarter and gained 35.2% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.4% 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 6 "strong buy" or "buy," no "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 $52.94

This summary was machine generated from LSEG data August 6 at 10:47 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)

Keywords: GIGACLOUD TECH-RESULTS/SUMMARY