Recap: Grove Collaborative Hldgs Q3 Earnings
Portfolio Pulse from Benzinga Insights
Grove Collaborative Hldgs (NYSE:GROV) reported its Q3 earnings, missing estimated earnings by 106.67% with an EPS of $-0.31 versus an estimate of $-0.15. Revenue was down $15.98 million from the same period last year. Despite missing on EPS last quarter, the share price increased by 30.14% the next day.
November 09, 2023 | 9:35 pm
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Grove Collaborative Hldgs reported a significant miss on its Q3 earnings, with an EPS of $-0.31 against an estimate of $-0.15. However, past performance shows a share price increase following an earnings miss.
Grove Collaborative Hldgs reported a significant miss on its Q3 earnings, which would typically lead to a negative impact on the stock price. However, the company's stock price increased by 30.14% the day after it missed EPS estimates last quarter. This suggests that investors may have already priced in the earnings miss, or there may be other factors at play that are supporting the stock price.
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