Recap: Acacia Research Q3 Earnings
Portfolio Pulse from Benzinga Insights
Acacia Research (NASDAQ:ACTG) reported Q3 earnings with an EPS of $-0.03, missing estimates by 125% compared to the expected $0.12. Revenue decreased by $5.78 million from the same period last year. The company's stock price dropped 5.1% the day after missing Q2 earnings by $0.33.
November 13, 2023 | 9:30 pm
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Acacia Research reported a significant miss in Q3 earnings with an EPS of -$0.03, which was far below the estimated $0.12. Revenue also saw a year-over-year decline.
The substantial earnings miss and decrease in revenue are likely to negatively impact investor sentiment and could lead to a short-term decline in stock price, similar to the 5.1% drop experienced after the Q2 earnings miss.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100