Company X Reports 15% Revenue Growth in Q3

By Hao Liu • Tuesday, July 01 15:28 • Permanent Link

Press Release: Company X Reports Strong Financial Performance in Q3

Company X has reported its financial results for the third quarter, ending September 30th, 2022. The company's revenue for the quarter reached $350 million, marking a 15% increase from the previous quarter's $304 million. Gross profit also saw a significant rise, reaching $120 million, compared to $95 million in the prior quarter.

Operating expenses for the quarter were $50 million, up from $45 million in the previous quarter. As a result, the company's operating income stood at $70 million, showing a notable improvement from the $50 million reported in the last quarter.

Net income for the quarter came in at $45 million, up from $30 million in the previous quarter. Earnings per share (EPS) also saw an increase, reaching $0.75 compared to $0.50 in the prior quarter.

Furthermore, the company's cash balance at the end of the quarter was $200 million, reflecting a $50 million increase from the $150 million reported in the previous quarter.

In terms of operational metrics, the company reported an increase in the number of units sold, reaching 500,000 units in the third quarter, up from 400,000 units in the previous quarter.

As a result of these announcements, the company's shares have moved -2.06% on the market, and are now trading at a price of $137.21. For the full picture, make sure to review Limbach's 8-K report.

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