Arcadia Biosciences: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Arcadia Biosciences (NASDAQ:RKDA) reported Q3 earnings, beating estimated earnings by 40.75% with an EPS of $-1.89 versus an estimate of $-3.19. However, revenue was down $281 thousand from the same period last year. Last quarter, the company also beat EPS estimates, which was followed by a 2.71% drop in the share price the next day.
November 09, 2023 | 9:15 pm
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NEGATIVE IMPACT
Arcadia Biosciences beat Q3 earnings estimates but reported lower revenue compared to the same period last year. Past performance shows a share price drop following a beat on EPS.
Arcadia Biosciences beat earnings estimates, which is generally a positive signal. However, the company reported lower revenue compared to the same period last year, which is a negative signal. Additionally, past performance shows that the company's share price dropped following a beat on EPS, which suggests that the market may not react positively to the earnings beat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100