Canaan: Q4 Earnings Snapshot

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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.


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