Xenetic Biosciences: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Xenetic Biosciences (NASDAQ:XBIO) reported Q3 earnings with an EPS of $-0.69, beating estimates by 38.39% against an expected $-1.12. Revenue increased by $196 thousand compared to the same period last year. Following last quarter's earnings beat, XBIO's share price increased by 0.83% the next day.
November 10, 2023 | 2:10 pm
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POSITIVE IMPACT
Xenetic Biosciences reported a positive earnings surprise with a 38.39% beat on EPS estimates and an increase in revenue, which may lead to a positive short term impact on the stock price.
Historically, stocks tend to react positively to earnings beats. XBIO's significant beat on EPS estimates and revenue growth compared to last year are likely to be viewed favorably by investors. The previous quarter's performance, where a smaller EPS beat resulted in a share price increase, suggests a similar or better response could occur this quarter.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100