Stock Track | Tuya Inc. Plunges 5.2% in Pre-Market Despite Better-Than-Expected Q3 Results

Stock Track

2024-11-19

Tuya Inc. (NYSE: TUYA), a global leading cloud platform service provider, saw its stock plummet by 5.2% in pre-market trading on Tuesday, despite reporting better-than-expected financial results for the third quarter of 2024.

The company's Q3 non-GAAP net income came in at $0.04 per diluted American depositary share, exceeding analysts' expectations of $0.03. Additionally, Tuya's revenue for the quarter grew an impressive 33.6% year-over-year to $81.6 million, surpassing Wall Street's estimates of $75.5 million.

Despite the strong performance, Tuya's stock faced a significant sell-off in pre-market trading. Analysts speculate that this could be due to concerns over the company's future growth prospects or potential challenges in expanding its cloud platform service offerings.

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Plunges 5.2% in Pre-Market Despite Better-Than-Expected Q3 Results\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-11-19 17:08</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Tuya Inc. (NYSE: TUYA), a global leading cloud platform service provider, saw its stock plummet by 5.2% in pre-market trading on Tuesday, despite reporting better-than-expected financial results for the third quarter of 2024.</p>\n\n<p>The company's Q3 non-GAAP net income came in at $0.04 per diluted American depositary share, exceeding analysts' expectations of $0.03. 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Analysts speculate that this could be due to concerns over the company's future growth prospects or potential challenges in expanding its cloud platform service offerings.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"","article_id":"1131678811","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1131678811","pubTimestamp":1732007298,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Tuya Inc. , a global leading cloud platform service provider, saw its stock plummet by 5.2% in pre-market trading on Tuesday, despite reporting better-than-expected financial results for the third quarter of 2024.The company's Q3 non-GAAP net income came in at $0.04 per diluted American depositary share, exceeding analysts' expectations of $0.03. 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