Phunware: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Phunware (NASDAQ:PHUN) reported its Q3 earnings with an in-line EPS of $-0.05, matching the estimate. However, the company's revenue was down $1.97 million from the same period last year. In the previous quarter, the company beat the EPS estimate by $0.01, which was followed by a 2.75% drop in the share price the next day.
November 09, 2023 | 9:35 pm
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Phunware's Q3 earnings were in line with estimates, but revenue was down from last year. The previous quarter's EPS beat was followed by a share price drop.
Phunware's earnings were in line with estimates, which typically doesn't drive significant price movement. However, the decrease in revenue YoY is a negative signal, which could lead to a decrease in the stock price. Additionally, the previous quarter's EPS beat was followed by a share price drop, indicating that beating estimates may not necessarily lead to positive price movement for this stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100