Canaan: Q1 Earnings Snapshot

Associated Press Finance
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HAIDIAN DISTRICT BEIJING , China (AP) — HAIDIAN DISTRICT BEIJING, China (AP) — Canaan Inc. (CAN) on Friday reported a first-quarter loss of $84.4 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Haidian District Beijing, China-based company said it had a loss of 51 cents. Losses, adjusted for stock option expense, came to 43 cents per share.

The cryptocurrency-mining computer maker posted revenue of $55.2 million in the period.

For the current quarter ending in June, Canaan said it expects revenue in the range of $72 million.

The company's shares closed at $2.58. A year ago, they were trading at $3.20.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CAN at https://www.zacks.com/ap/CAN

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