Shares of Cowell e Holdings (HKG:1415) surged 12.58% during Friday's intraday trading, following the release of its impressive 2024 financial results. The optical products company's strong performance significantly exceeded market expectations, driving investor enthusiasm.
According to a filing with the Hong Kong stock exchange on Thursday, Cowell e Holdings reported a remarkable 156% increase in attributable profit, reaching $119.1 million in 2024, up from $46.6 million in 2023. The company's earnings per share (EPS) climbed to $0.134, more than doubling the previous year's $0.053. Revenue also saw substantial growth, surging 170% to $2.49 billion from $923.8 million in the prior year.
The financial results outperformed analyst estimates, with Visible Alpha forecasting an EPS of $0.12 and revenue of $2.07 billion. The market's positive reaction was evident even before the current surge, with shares initially jumping 10% during Friday's morning trading. The significant beat on both profit and revenue forecasts appears to be driving the continued stock price appreciation throughout the trading session.
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