Viomi Technology’s FY 2023 Financial Results Reveal Decreased Revenue and Improved Earnings, But Miss Analyst Expectations by 12% and 140%

Viomi Technology’s Full Year 2023 Earnings Fall Below Expectations

Viomi Technology (NASDAQ: VIOT) released its financial results for the full year 2023, showing a decline in revenue and a narrowed net loss compared to the previous fiscal year. Revenue was CN¥2.49 billion, down 23% from FY 2022, while the net loss was CN¥84.7 million, which represented a 69% improvement from the previous year. Earnings per share (EPS) also improved, 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.

It’s important to note that this article is based on historical data and analyst forecasts, and is not intended as financial advice. As with any investment, it’s important to consider the risks involved before making any decisions. If you have any feedback or concerns about this content or any other articles on Simply Wall St., please reach out to us directly or email our editorial team at [email protected]. It’s worth noting that this article may not include all relevant information or qualitative analysis that could impact investment decisions made by readers or subscribers of Simply Wall St., so it should be used as an unbiased source of information rather than relied upon as a substitute for professional advice or investment recommendations.

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