Akoustis Technologies Q1 Adj EPS $(0.27) Misses $(0.18) Estimate, Sales $7.00M Miss $7.08M Estimate
Portfolio Pulse from Benzinga Newsdesk
Akoustis Technologies (NASDAQ:AKTS) reported a larger than expected adjusted quarterly loss of $(0.27) per share compared to the $(0.18) estimate and sales of $7.00M, missing the $7.08M estimate. Despite the miss, sales increased by 25.80% compared to the same period last year.
November 13, 2023 | 12:33 pm
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Akoustis Technologies reported a Q1 adjusted EPS of $(0.27), missing estimates by $0.09, and sales that were slightly below expectations at $7.00M versus the $7.08M forecast.
The missed earnings and sales estimates are likely to negatively impact investor sentiment in the short term, potentially leading to a decrease in the stock price. The significance of the miss and the company's performance compared to last year's same quarter are important factors for investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100