Canaan Inc. (CAN) Reports Revenue Growth and Reduced Net Loss

Dec 11, 2024

Canaan Inc. (CAN, Financial) shares rose over 7% in pre-market trading, reaching $2.72. For the first three fiscal quarters of 2024, Canaan reported a total revenue of $181 million, marking an 11.18% increase from $162 million in the same period last year. The company's net loss for the period was $157 million, a significant improvement compared to the $275 million net loss recorded in the previous year, reflecting a 42.99% reduction in net loss.

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