Tingo Group: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Tingo Group (NASDAQ:TIO) reported Q3 earnings with an EPS of $0.04, significantly missing the estimate of $0.46. Despite this, revenue increased by $572.47 million from the previous year. The company's past earnings miss resulted in a 5.43% share price drop the following day.
November 14, 2023 | 12:10 pm
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Tingo Group reported a significant earnings miss for Q3, with an EPS of $0.04 compared to the expected $0.46, but showed a substantial increase in revenue year-over-year.
The substantial miss in earnings per share (EPS) is likely to negatively impact investor sentiment in the short term, as historical data shows a previous earnings miss led to a 5.43% drop in Tingo Group's share price the following day. The increase in revenue may provide some cushion, but the magnitude of the EPS miss suggests a stronger negative impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100