Acacia Research Q3 EPS $(0.03) Misses $0.12 Estimate, Sales $10.10M Beat $8.00M Estimate
Portfolio Pulse from bharat@benzinga.com
Acacia Research (NASDAQ:ACTG) reported Q3 earnings with a loss of $(0.03) per share, significantly missing the $0.12 estimate, marking a 250% decrease from the previous year's earnings. However, the company's sales of $10.10M exceeded the $8.00M estimate, despite being a 36.39% decrease from the previous year's sales.
November 13, 2023 | 9:27 pm
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Acacia Research reported a larger-than-expected Q3 loss per share and a decrease in year-over-year earnings, but surpassed sales estimates.
The significant miss on earnings per share is likely to negatively impact investor sentiment in the short term, despite the sales beat. The decrease in earnings compared to last year could further dampen the outlook for the stock.
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