Canaan Q2 EPS $(4.34) Misses $(0.12) Estimate, Sales $73.90M Miss $77.26M Estimate
Portfolio Pulse from Benzinga Newsdesk
Canaan (NASDAQ:CAN) reported Q2 losses of $(4.34) per share, missing the analyst consensus estimate of $(0.12) by 3516.67%. This is a 823.33% decrease over earnings of $0.60 per share from the same period last year. The company also reported quarterly sales of $73.90 million, missing the analyst consensus estimate of $77.26 million by 4.35%. This is a 70.05% decrease over sales of $246.74 million the same period last year.
August 29, 2023 | 10:03 am
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NEGATIVE IMPACT
Canaan's Q2 earnings and sales missed analyst estimates, with a significant decrease from the same period last year.
Canaan's Q2 earnings and sales missed analyst estimates by a significant margin, and also showed a substantial decrease from the same period last year. This negative financial performance is likely to negatively impact the company's stock price in the short term.
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