Smart Share Q1 Earnings Beats Estimates, Sees Growth In Mobile Charging Industry
Portfolio Pulse from Nabaparna Bhattacharya
Smart Share Global Limited (NASDAQ:EM) reported Q1 2023 revenues of $119.81 million, beating analyst consensus of $114.09 million, and adjusted EPS of $0.01, beating the Street view of ($0.02) loss. The company's performance was driven by normalizing offline traffic in China and cost-efficiency initiatives taken last year.
June 20, 2023 | 2:06 pm
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Smart Share Global (NASDAQ:EM) reported better-than-expected Q1 2023 results, with revenues of $119.81 million and adjusted EPS of $0.01, driven by normalizing offline traffic in China and cost-efficiency initiatives.
Smart Share Global's better-than-expected Q1 2023 results are likely to have a positive short-term impact on its stock price. The company's strong performance was driven by normalizing offline traffic in China and cost-efficiency initiatives taken last year, which helped it beat analyst consensus and Street view estimates. This news is highly relevant and important for investors in EM, as it indicates the company's growth potential and ability to adapt to market conditions.
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