Shift Technologies Q2 EPS $(1.52) Vs $(6.45) Last year, Sales $47.26M Miss $59.25M Estimate
Portfolio Pulse from Benzinga Newsdesk
Shift Technologies reported Q2 losses of $(1.52) per share, beating the analyst consensus estimate of $(2.16) by 29.63%. However, the company's quarterly sales of $47.26 million missed the analyst consensus estimate of $59.25 million by 20.24%, marking a 78.88% decrease from the same period last year.
August 10, 2023 | 8:10 pm
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NEGATIVE IMPACT
Shift Technologies reported better than expected Q2 EPS but missed on sales, which were down significantly YoY.
Shift Technologies reported a smaller loss per share than expected, which is positive. However, the company's sales missed estimates and were significantly lower than the same period last year, which is a negative signal. This could negatively impact the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100