Canaan (CAN) has released an update.
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Canaan Inc., a high-performance computing solutions provider, reported a strong second quarter in 2024 with revenues soaring to $71.9 million, a 104.8% increase from the previous quarter, and surpassing their guidance. The company significantly narrowed its operating loss by 60.9% from the previous year and by 31.5% from the prior quarter. This financial improvement was attributed to the robust sales of their A14 products, expanded market presence in North America and the Middle East, and efficient expense control measures.
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