OncoCyte Q2 Adj. EPS $(0.59) Beats $(0.87) Estimate, Sales $463.00K Beat $360.00K Estimate
Portfolio Pulse from Benzinga Newsdesk
OncoCyte (NASDAQ:OCX) reported Q2 losses from cont ops of $(1.03) per share, a significant increase from $(0.24) per share last year. However, the company's quarterly sales of $463.00 thousand beat the analyst consensus estimate of $360.00 thousand by 28.61 percent, despite being a 77.60 percent decrease from $2.07 million the same period last year.
August 10, 2023 | 11:04 am
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OncoCyte's increased losses may negatively impact investor sentiment, while beating sales estimates could provide some positive sentiment. The significant YoY decrease in sales could also be a concern.
The increased losses reported by OncoCyte could lead to negative investor sentiment, potentially driving the stock price down in the short term. However, the fact that the company beat sales estimates could provide some positive sentiment. The significant year-over-year decrease in sales could also be a concern for investors, potentially further impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100