XPO Inc Shares Gain After Q2 Results, Revenue Misses Estimates
Portfolio Pulse from Akanksha Bakshi
XPO Inc reported a Q2 FY23 revenue decline of 6.4% YoY to $1.92 billion, missing the consensus of $1.93 billion. Adjusted EPS was $0.71, down from $1.14 in 2Q22, but beating the consensus of $0.61. Operating income was $107 million, compared with $171 million in 2Q22. The company's shares are trading higher by 6.75% at $72.94.
August 04, 2023 | 3:36 pm
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XPO Inc's Q2 FY23 revenue declined by 6.4% YoY, missing estimates. However, the company's shares are trading higher.
Despite the decline in revenue, the company's shares are trading higher, which could be due to the fact that the adjusted EPS beat the consensus. This indicates that investors may be focusing more on the company's profitability rather than its revenue.
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