SkyWater Technology: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
SkyWater Technology (NASDAQ:SKYT) reported Q3 earnings, missing estimated earnings by 6.25% with an EPS of $-0.17 versus an estimate of $-0.16. However, revenue was up $19.30 million from the same period last year. Last quarter, the company also missed on EPS which was followed by a 12.74% drop in the share price the next day.
November 08, 2023 | 9:40 pm
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SkyWater Technology's Q3 earnings missed estimates, which could potentially lead to a short-term drop in share price, similar to the 12.74% drop experienced last quarter after an earnings miss.
SkyWater Technology missed its Q3 earnings estimates, reporting an EPS of $-0.17 versus an estimate of $-0.16. This is the second consecutive quarter where the company has missed its earnings estimates. Historically, such misses have led to a drop in the company's share price. Last quarter, the company's share price dropped by 12.74% the day after it missed its earnings estimates. Therefore, it is likely that the company's share price will experience a similar drop in the short term.
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