Troy Information Technology (SZSE:300366) has released its full-year 2023 financial results, showing a significant drop in revenue to CN¥1.67 billion, down 24% year-on-year. The company also reported a net loss of CN¥474.5 million, indicating a widening loss of CN¥435.5 million compared to the previous year. Earnings per share (EPS) worsened to a loss of CN¥0.79 from a loss of CN¥0.065 in fiscal 2022.
Despite missing analyst expectations by 35%, Troy Information Technology forecasts annual revenue growth of 33% over the next two years, beating industry forecasts for China’s IT sector growth of just 19%. Despite this, shares recorded an increase of 8.6% compared to the previous week, indicating investor confidence in the company’s potential for future growth.
However, investors are advised to perform a thorough risk analysis before making any investment decisions, as there may be potential warning signs associated with the company’s financial performance. The analysis provided in this article is based on historical data and analyst forecasts using an unbiased methodology and does not constitute financial advice or take into account individual goals or financial situations. Simpli Wall St aims to provide long-term focused analysis driven by fundamental data but does not hold any position in the mentioned stocks.