Creative Media Q3 EPS $(1.01) Misses $(0.69) Estimate, Sales $28.12M Miss $30.21M Estimate
Portfolio Pulse from Benzinga Newsdesk
Creative Media (NASDAQ:CMCT) reported a larger than expected quarterly loss of $(1.01) per share compared to the $(0.69) estimate, a 102% increase in losses from the same period last year. Sales also fell short at $28.12M versus the expected $30.21M, although this represents a 13.14% increase from the previous year.
November 14, 2023 | 9:25 pm
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NEGATIVE IMPACT
Creative Media's Q3 EPS of $(1.01) missed estimates by 46.38%, and sales of $28.12M also missed expectations, indicating a potential negative short-term impact on the stock.
Missing both earnings and revenue estimates significantly, especially with a 102% increase in losses year-over-year, is likely to shake investor confidence and could lead to a short-term decline in CMCT's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100