Canaan Clocks 507% Revenue Growth In Q2, Expands Margin

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Canaan Clocks 507% Revenue Growth In Q2, Expands Margin

Benzinga2021-09-15

Computing solutions provider Canaan Inc (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million. A substantial increase in total computing power sold drove ...

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rogerl
·2021-09-16
Great
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skyteoh83
·2021-09-15
Wow, good high
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Total computing power sold increased 126.9% Y/Y to 5.9 million Thash/s. The rise in the number of Bitcoin mining machines delivered due to solid market demand drove the Y/Y growth.\nProducts revenue grew 562.5% Y/Y to $167.2 million.\nThe gross margin expanded by 1,519 bps to 39.5%. Net earnings per ADS was $0.22.\nCanaan held $189.0 million in cash and equivalents.\nDirector Jiaxuan Li stepped down from the board for personal reasons, effective September 15.\nOutlook: Canaan sees sequential revenue growth of 10% - 30% for Q3.\nPrice Action: CAN shares traded higher by 4.79% at $9.62 in the premarket session on the last check Wednesday.","news_type":1,"symbols_score_info":{"CAN":1}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":882534594,"gmtCreate":1631705786718,"gmtModify":1676530613467,"author":{"id":"3581724553287100","authorId":"3581724553287100","name":"skyteoh83","avatar":"https://static.tigerbbs.com/648e17130750543b89013fdc44999725","vip":1,"crmLevel":12,"crmLevelSwitch":0,"wearingBadges":[],"idStr":"3581724553287100","authorIdStr":"3581724553287100"},"htmlText":"Wow, good high","listText":"Wow, good high","text":"Wow, good high","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882534594","repostId":2167560402,"repostType":2,"repost":{"id":"2167560402","kind":"highlight","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1631701330,"share":"https://ttm.financial/m/news/2167560402?lang=en_US&edition=fundamental","pubTime":"2021-09-15 18:22","market":"us","language":"en","title":"Canaan Clocks 507% Revenue Growth In Q2, Expands Margin","url":"https://stock-news.laohu8.com/highlight/detail?id=2167560402","media":"Benzinga","summary":"\n","content":"<div>\n<p>Computing solutions provider Canaan Inc (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.\nA substantial increase in total computing power sold drove ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/21/09/22946198/canaan-clocks-507-revenue-growth-in-q2-expands-margin\">Source Link</a>\n\n</div>\n","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCanaan Clocks 507% Revenue Growth In Q2, Expands Margin\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-15 18:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/news/earnings/21/09/22946198/canaan-clocks-507-revenue-growth-in-q2-expands-margin><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Computing solutions provider Canaan Inc (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.\nA substantial increase in total computing power sold drove ...</p>\n\n<a href=\"https://www.benzinga.com/news/earnings/21/09/22946198/canaan-clocks-507-revenue-growth-in-q2-expands-margin\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"CAN":"嘉楠科技"},"source_url":"https://www.benzinga.com/news/earnings/21/09/22946198/canaan-clocks-507-revenue-growth-in-q2-expands-margin","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2167560402","content_text":"Computing solutions provider Canaan Inc (NASDAQ:CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million.\nA substantial increase in total computing power sold drove the numbers. 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