Zedge's Q3 earnings beat estimates significantly, with an EPS of $0.07 compared to an estimated $-0.03. This positive surprise, along with increased revenue, is likely to have a positive short-term impact on the stock price. However, it's important to note that last quarter's earnings beat was followed by a 14.23% drop in the share price the next day, so the market reaction may not be as straightforward.