Recap: Bit Digital Q3 Earnings
Portfolio Pulse from Benzinga Insights
Bit Digital (NASDAQ:BTBT) reported Q3 earnings with an EPS of $-0.03, beating estimates by 50% against an expected $-0.06. Revenue increased by $2.47 million compared to the same period last year. Despite beating EPS estimates last quarter, BTBT's share price fell by 4.92% the following day. Historical earnings performance shows mixed results over the past four quarters.
November 14, 2023 | 2:05 pm
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Bit Digital reported a better-than-expected Q3 EPS of $-0.03, beating estimates by 50%, and saw a revenue increase from the previous year. Historical data shows a share price drop after last quarter's earnings beat.
While Bit Digital beat earnings estimates, which could be positive for the stock, historical performance indicates a potential drop in share price following earnings announcements. The increase in revenue is a positive sign, but investor reaction to past earnings beats suggests caution.
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