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Canaan's Q3 revenue guidance drops sharply to $11 million-$15 million

Earnings Whispers · ·by G4L

CAN
CAN Canaan Inc ADR
$0.16 -19.15%
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  1. 1Canaan's Q3 revenue guidance is $11 million to $15 million.
  2. 2Wall Street consensus revenue is approximately $11.5 million.
  3. 3Management cited industry inventory surplus, aggressive competitor pricing, and weak demand outside the US as reasons for the revenue decline.

So what's the key point?

Canaan's expected Q3 revenue has lowered to around $11.5 million. Revenue is expected to decrease due to excess inventory and intense competition.

Source Earnings Whispers · View original ↗

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