09:34 AM EDT, 05/09/2024 (MT Newswires) -- GigaCloud Technology ( GCT ) shares were up over 2% in recent Thursday trading after the company posted higher Q1 adjusted earnings and revenue.

The company reported Q1 adjusted earnings of $0.84 per diluted share, up from $0.49 a year earlier. An analyst surveyed by Capital IQ expected $0.51.

Revenue for the quarter ended March 31 was $251.1 million, up from $127.8 million a year earlier. Two analysts surveyed by Capital IQ expected $243 million.

The company said it expects Q2 revenue of between $265 million and $280 million. An analyst surveyed by Capital IQ expects $270.7 million.

Price: 39.95, Change: +0.81, Percent Change: +2.07