By Kelly Cloonan
Shares of GigaCloud Technology climbed after the company posted higher revenue in the first quarter amid strong activity from its buyers and sellers despite macroeconomic uncertainty.
The stock rose 19% to $18.90 on Monday in after-hours trading. Shares declined 57% in the past 12 months through Monday's close.
The end-to-end B2B technology-solutions company on Monday posted a profit of $27.1 million, or 68 cents a share, compared with $27.2 million, or 66 cents a share, a year earlier.
Adjusted earnings per share were 83 cents.
Revenue rose 8.3% to $271.9 million. Analysts polled by FactSet expected $259.8 million.
Chief Executive Larry Wu said the company faces macroeconomic uncertainty and persistent industry headwinds but continues to see strong activity on its marketplace. "Buyers and sellers continue to lean in during times of volatility and challenge."
For the second quarter, the company guided for sales of $275 million to $305 million, compared to $310.9 million in the year-ago period. Analysts were looking for $303.2 million.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
May 12, 2025 17:54 ET (21:54 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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