Canaan Second Quarter 2024 Earnings: US$0.008 loss per share (vs US$0.15 loss in 2Q 2023)

[email protected] (Simply Wall St)
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Canaan (NASDAQ:CAN) Second Quarter 2024 Results

Key Financial Results

  • Revenue: US$36.8m (up 97% from 2Q 2023).

  • Net loss: US$2.49m (loss narrowed by 91% from 2Q 2023).

  • US$0.008 loss per share (improved from US$0.15 loss in 2Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Canaan Earnings Insights

Looking ahead, revenue is forecast to grow 36% p.a. on average during the next 2 years, compared to a 7.7% growth forecast for the Tech industry in the US.

Performance of the American Tech industry.

The company's shares are down 5.7% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 4 warning signs for Canaan (2 are concerning) you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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