• Fri. Jun 14th, 2024

Viomi Technology Reports Lower Than Expected Financial Results and Investment Risks Ahead

BySamantha Jones

Mar 27, 2024
Viomi Technology’s Full Year 2023 Earnings Fall Short of Expectations

Viomi Technology (NASDAQ: VIOT) announced its full-year 2023 financial results, with revenue of CN¥2.49 billion, a 23% decrease from the previous year. The company’s net loss was CN¥84.7 million, which narrowed by 69% compared to the previous year. The loss per share was CN¥1.23, an improvement from CN¥3.97 in FY 2022.

Despite meeting analyst expectations for revenue and earnings per share (EPS), Viomi Technology’s revenue and earnings missed analyst expectations by 12% and 140%, respectively. Looking ahead, the forecast predicts a 21% annual growth in revenue over the next two years, compared to a 5.1% industry growth forecast for Consumer Durables in the US.

However, investors should be aware of potential risks associated with investing in Viomi Technology, as there are two warning signs that they should keep in mind. The American Consumer Durables industry has seen a decline in performance, with Viomi Technology’s shares dropping by 8.8% in just one week. It is important to carefully consider any investment decisions before making them based on this information alone.

If you have any feedback or concerns about the content of this article, please do not hesitate to reach out to us directly or contact us via email. This article is based on historical data and analyst forecasts using an unbiased methodology.

It is important to note that this analysis does not constitute financial advice and does not recommend buying or selling any stock without considering your specific objectives and financial situation.

Simply Wall St aims to provide long-term focused analysis driven by fundamental data but may not include the latest company announcements or qualitative material.

Investors should always conduct their own research before making any investment decisions and seek professional advice if necessary.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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