Welcome to our dedicated page for GigaCloud Technology news (Ticker: $GCT), a resource for investors and traders seeking the latest updates and insights on GigaCloud Technology stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect GigaCloud Technology's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of GigaCloud Technology's position in the market.
GigaCloud Technology Inc reported strong financial results for the first quarter ended March 31, 2024, with total revenues of $251.1 million, an increase of 96.5% from the previous year. The company also saw growth in gross profit, net income, and adjusted EBITDA. The GigaCloud Marketplace showed significant growth in GMV, active sellers, active buyers, and spend per active buyer. The company introduced Branding-as-a-Service to enhance the furniture category in the marketplace. GigaCloud expects total revenues between $265 million and $280 million in the second quarter of 2024.
GigaCloud Technology Inc, listed as Nasdaq: GCT, will release its unaudited financial results for the first quarter of 2024 on May 9, 2024. The company specializes in B2B technology solutions for larger parcel merchandise. A conference call will be held at 8:00 AM Eastern Time on the same day for a discussion of the results.
GigaCloud Technology Inc, listed as Nasdaq: GCT, has expanded its global fulfillment network by surpassing 10 million square feet, marking a 169% increase. The new Ontario fulfillment center, spanning 562,100 square feet, is set to commence operations in July 2024. This expansion enhances support for GigaCloud's B2B marketplace participants, strengthening the company's ability to deliver efficient fulfillment solutions.