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Canaan: Q1 Earnings Snapshot

HANGZHOU, China (AP) _ Canaan Inc. (CAN) on Tuesday reported earnings of $184,000 in its first quarter.

The Hangzhou, China-based company said it had net income of less than 1 cent on a per-share basis. Earnings, adjusted for stock option expense, came to 13 cents per share.

The cryptocurrency-mining computer maker posted revenue of $61.5 million in the period.

Canaan shares have climbed 42% since the beginning of the year. The stock has more than tripled in the last 12 months.

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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

The Associated Press

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