Root Q2 EPS $(2.55) Beats $(3.03) Estimate, Sales $74.80M Beat $66.17M Estimate
Portfolio Pulse from Benzinga Newsdesk
Root Inc. (NASDAQ:ROOT) reported Q2 earnings per share of $(2.55), beating the analyst consensus estimate of $(3.03) by 15.84%. This is a 60.65% increase over losses from the same period last year. Quarterly sales were $74.80 million, beating the analyst consensus estimate of $66.17 million by 13.04%, but a 6.97% decrease from the same period last year.
August 04, 2023 | 12:25 pm
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POSITIVE IMPACT
Root Inc. reported better than expected Q2 earnings and sales, despite a YoY decrease in sales. This could potentially boost investor confidence.
Root Inc. reported better than expected Q2 earnings and sales, which is generally a positive signal to investors. However, the YoY decrease in sales might be a concern for some investors. Overall, the positive earnings beat might outweigh the negative impact of the sales decrease in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100