Quantum Q4: 11% Revenue Growth, Cost Reduction Action, Seasonally Lower Q1 & More
Portfolio Pulse from Nabaparna Bhattacharya
Quantum Corporation reported Q4 FY23 revenue growth of 11% YoY to $105.34 million, beating consensus estimates. Adjusted EPS loss of $0.04 was in line with estimates. The company implemented a global efficiency plan to save $14 million annually by FY25. Q1 revenue guidance is lower than estimates.
June 06, 2023 | 5:27 pm
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NEGATIVE IMPACT
Quantum Corporation's Q4 revenue beat estimates, but Q1 guidance is lower than expected. The company has implemented a cost reduction plan to save $14 million annually by FY25.
Quantum Corporation's Q4 revenue growth was positive, but the lower Q1 guidance is likely to negatively impact the stock price in the short term. The cost reduction plan may help improve the company's financials in the long run, but the immediate market reaction is negative, with shares trading down 12%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100