GigaCloud Technology Reports Strong Revenue Growth
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GigaCloud Technology, Inc. (GCT) reported Q3 earnings with total revenues of $332.6 million, up from $303.3 million year-over-year. The net income was $37.2 million, down from $40.7 million, due to increased selling and marketing expenses. The company experienced growth in product revenues, especially in Germany and Japan, and maintains a strong cash position of $334.9 million. GigaCloud aims to enhance its market position and expand e-commerce solutions, expressing optimism about future growth opportunities globally.
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