Canaan Inc. (CAN) on Tuesday reported a fourth-quarter loss of $63.6 million, after reporting a profit in the same period a year earlier
BEIJING (AP) — BEIJING (AP) — Canaan Inc. (CAN) on Tuesday reported a fourth-quarter loss of $63.6 million, after reporting a profit in the same period a year earlier.
The Beijing-based company said it had a loss of 38 cents per share. Losses, adjusted for stock option expense, were 30 cents per share.
The cryptocurrency-mining computer maker posted revenue of $56.8 million in the period.
For the year, the company reported profit of $95.4 million, or 56 cents per share. Revenue was reported as $634.9 million.
For the current quarter ending in March, Canaan said it expects revenue in the range of $65 million.
The company's shares closed at $2.51. A year ago, they were trading at $5.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CAN">Zacks stock report on CAN at https://www.zacks.com/ap/CAN
