Recap: RenovoRx Q3 Earnings
Portfolio Pulse from Benzinga Insights
RenovoRx (NASDAQ:RNXT) reported Q3 earnings with an EPS of $-0.13, beating estimates by 56.67% but with no change in revenue from the same period last year. The previous quarter's EPS beat was followed by a 6.52% drop in share price the next day.
November 14, 2023 | 2:30 pm
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RenovoRx reported a better-than-expected Q3 EPS of $-0.13, which could lead to positive investor sentiment despite no revenue growth from the previous year.
The positive earnings surprise could lead to short-term optimism among investors, potentially increasing the stock price. However, the lack of revenue growth and the historical drop in share price following the last earnings beat suggest a cautious outlook.
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