IO Biotech: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
IO Biotech (NASDAQ:IOBT) reported Q3 earnings with an EPS of $-0.43, slightly beating estimates by 2.27% compared to the expected $-0.44. However, revenue was unchanged from the same period last year. In the previous quarter, IOBT missed EPS estimates by $0.1, which did not affect the share price the following day.
November 13, 2023 | 1:15 pm
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IO Biotech reported a marginal earnings beat in Q3 with an EPS of $-0.43 against an estimate of $-0.44. Revenue remained the same as the previous year, indicating no growth in that period.
While IO Biotech beat EPS estimates, the lack of revenue growth suggests a neutral impact on the stock price. Historically, a previous earnings miss did not affect the stock price, indicating that the market may not react strongly to small earnings beats or misses.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100