Viomi Technology (NASDAQ: VIOT ) reported its full-year 2023 financial results, with revenue of CN¥2.49 billion, a decline of 23% compared to the previous fiscal year. The company’s net loss was CN¥84.7 million, which was reduced by 69% compared to the previous year. Loss per share was CN¥1.23, an improvement from 2022’s CN¥3.97.

Despite meeting analysts’ expectations for revenue and earnings per share, Viomi Technology fell short of analyst expectations for both metrics, with revenue falling 12% and EPS missing estimates by 140%. Looking ahead, the forecast calls for annual revenue growth of 21% over the next two years, compared to an industry forecast of only 5.1% growth for US consumer durables.

The U.S. consumer durables industry saw a drop in performance during this period, with shares of Viomi Technology declining by 8.8% in just one week. Investors should be aware that there are potential risks associated with investing in this company and should carefully consider their investment decisions before making any trades.

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It is important to note that this article is based on historical data and analyst forecasts using an unbiased methodology that does not guarantee success or profitability in trading stocks without considering your specific goals and financial situation.

Simpli Wall St aims to provide long-term focused analysis based on fundamental data while also considering recent developments and qualitative material related to companies we cover.

Overall, investors should carefully consider Viomi Technology’s current financial performance as well as potential risks associated with investing before making any trades in this stock market today.

By Samantha Johnson

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