Canaan Q1 Adj EPS $(0.43) Misses $(0.21) Estimate, Sales $55.23M Miss $62.11M Estimate
Portfolio Pulse from Benzinga Newsdesk
Canaan reported Q1 adjusted EPS of $(0.43), missing the $(0.21) estimate, and sales of $55.23M, missing the $62.11M estimate. This represents a 186% decrease in earnings and a 74.18% decrease in sales compared to the same period last year.
May 26, 2023 | 10:06 am
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Canaan's Q1 earnings and sales missed estimates, with a 186% decrease in earnings and a 74.18% decrease in sales compared to last year.
Canaan's Q1 results missed analyst estimates, with adjusted EPS of $(0.43) compared to the $(0.21) estimate and sales of $55.23M compared to the $62.11M estimate. The significant decrease in earnings and sales compared to the same period last year indicates a negative short-term impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100