Tuya Inc ADR Up 10.18% To $2.09 After Earnings Beat

Wednesday, November 29, 2023 - Tuya Inc ADR (TUYA) reported upside earnings and revenues today.

Tuya Inc ADR's earnings came in at an EPS of $0.02 per share. The firm's earnings are up 167% since reporting losses of $0.03 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Analyst projections for Tuya Inc ADR revenue came in at a consensus of $57.2 million. Third-Quarter revenues surpassed estimates for $61.1 million by $3.9 million (7%). The company achieved 36% growth year-over-year compared to the firm's revenue of $45 million from the year-ago quarter. The higher earnings growth relative to revenue signals Tuya Inc ADR has improved its profit margin.

The stock is up 10.18% to $2.09 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Tuya Inc ADR a Bullish Sentiment Rank from InvestorsObserver.

Tuya Inc ADR has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 88, putting Tuya Inc ADR in the top 25% of stocks. The firm set a 52-week high on February 2, 2023 at $3.12 and set a 52-week low on November 29, 2022 at $1.03.

Tuya Inc is a global IoT development platform that builds interconnectivity standards to bridge the intelligent needs of brands, OEMs, developers, and retail chains across a broad range of smart devices and industries. Based on the global public cloud, Tuya connects different intelligent scenarios and smart devices by providing hardware development tools, integrating public cloud services, and offering an intelligent business development platform. The company provides comprehensive smart empowerment from technology to marketing to foster a neutral, open and accessible developer ecosystem.