Spruce Biosciences Q3 EPS $(0.30) Beats $(0.35) Estimate, Sales $3.07M Beat $1.50M Estimate
Portfolio Pulse from Benzinga Newsdesk
Spruce Biosciences (NASDAQ:SPRB) reported Q3 earnings with a loss of $0.30 per share, surpassing the estimated loss of $0.35 per share. The company also reported sales of $3.07M, significantly exceeding the $1.50M estimate. This represents a 37.5% improvement in losses per share compared to the same quarter last year.
November 13, 2023 | 10:28 pm
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POSITIVE IMPACT
Spruce Biosciences reported better-than-expected Q3 earnings and sales, indicating a positive performance trend and potential investor confidence boost.
Beating both earnings and sales estimates typically leads to a positive market reaction as it suggests the company is performing better than expected. The significant beat on sales and the improvement in earnings compared to the previous year are likely to be viewed favorably by investors, potentially leading to a short-term increase in SPRB's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100