Loop Media Expects Q3 Revenue Of $5.4M-$5.6M Vs. $8.3M Est., Operating Loss Of $(7.6)M-$(7.9)M
Portfolio Pulse from Benzinga Newsdesk
Loop Media expects Q3 revenue of $5.4M-$5.6M, lower than the estimated $8.3M, and an operating loss of $7.6M-$7.9M. The company anticipates a 20% reduction in underlying SG&A expenses and a gross profit margin of 30%-33% for the quarter ending June 30, 2023.
June 02, 2023 | 11:06 am
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NEGATIVE IMPACT
Loop Media's lower-than-expected Q3 revenue and operating loss may negatively impact its stock price in the short term.
Loop Media's projected Q3 revenue is significantly lower than the estimated $8.3M, and the company expects an operating loss. This underperformance may lead investors to lose confidence in the stock, causing a short-term negative impact on its price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100