What caused GCTS's Q3 2024 EPS to exceed forecasts?

GCT Semiconductor Holding Inc.'s (GCTS) Q3 2024 EPS exceeded forecasts due to several key factors: 1. **Revenue Growth**: Net revenues increased by 77.8% sequentially, reaching $2.6 million. This growth was primarily driven by a rebound in product revenue, which is crucial for improving EPS. 2. **Gross Margin Improvement**: The company achieved a significant improvement in gross margin to 62.3%, up from 12% in the same quarter last year. Enhanced gross margin indicates better profitability, directly impacting EPS. 3. **5G Development Focus**: GCT's strategic focus on 5G development is pivotal. Despite a year-over-year decrease in net revenues, the company is positioning itself for future growth with anticipated volume shipments of 5G chipsets expected in the first half of 2025. 4. **Partnerships and Collaborations**: GCT has established significant partnerships, such as with Samsung and Kyocera, to accelerate 5G chipset development. These collaborations are likely to enhance the company's market position and profitability. In summary, GCT's Q3 2024 EPS exceeded expectations due to a combination of revenue growth, improved gross margins, strategic focus on 5G development, and strategic partnerships. These factors collectively contribute to the company's financial performance and future growth potential.