June 13, 2024

Viomi Technology Reports Improved Net Loss and EPS, but Misses Analyst Expectations

2 min read
Viomi Technology’s Full Year 2023 Earnings Fall Below Expectations

Viomi Technology (NASDAQ: VIOT) has released its full year 2023 financial results, showing a decline in revenue and a narrowed net loss compared to the previous fiscal year. The company reported revenue of CN¥2.49 billion, which was down 23% from FY 2022, while the net loss was CN¥84.7 million, representing a 69% improvement from the previous year. Earnings per share (EPS) also showed improvement, with a loss of CN¥1.23 per share compared to CN¥3.97 in FY 2022.

Despite the improvements in net loss and EPS, both revenue and earnings missed analyst expectations by 12% and 140%, respectively. Looking ahead, Viomi Technology is forecasting a 21% average annual revenue growth over the next two years, outpacing the 5.1% growth forecast for the Consumer Durables industry in the US. However, Viomi Technology’s shares are down 8.8% from the previous week, reflecting some investor concerns.

When investing in any company, it is important to be aware of potential risks. Viomi Technology has been flagged with two warning signs that investors should be aware of before making any investment decisions. It’s important to conduct thorough research on any company before investing your hard-earned money into it.

If you have any feedback or concerns about this article or any other content on Simply Wall St., please feel free to reach out directly or email our editorial team at [email protected](mailto:email@simplywallst). This article is based on historical data and analyst forecasts and should not be considered as financial advice.

Simply Wall St does not hold positions in any mentioned stocks.

Investors should carefully consider their own financial circumstances before making investment decisions and seek advice from a qualified professional if necessary.

It’s worth noting that this article is for informational purposes only and does not constitute financial advice.

In conclusion, while there are potential risks involved with investing in any company, it’s important to conduct thorough research before making investment decisions and seek advice from a qualified professional if necessary.

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