Aptevo Therapeutics: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Aptevo Therapeutics (NASDAQ:APVO) reported Q3 earnings, surpassing EPS estimates by 33.33% with an EPS of $-0.5 against the expected $-0.75. However, revenue was unchanged from the same period last year. In the previous quarter, APVO missed EPS estimates by $0.11, which was followed by a 3.43% share price increase the next day.
November 14, 2023 | 2:30 pm
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POSITIVE IMPACT
Aptevo Therapeutics exceeded Q3 EPS estimates by 33.33%, reporting an EPS of $-0.5 compared to the forecasted $-0.75. Revenue remained the same as the previous year, and past performance indicates a potential positive reaction in share price following earnings surprises.
Beating EPS estimates typically generates positive sentiment among investors, which can lead to a short-term increase in stock price. Although revenue did not grow, the significant beat on EPS may outweigh this. Historical data from the previous quarter shows that APVO's stock price increased following an earnings miss, suggesting that the market may respond even more positively to an earnings beat.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100