Ituran Location & Control: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Ituran Location & Control (NASDAQ:ITRN) reported Q3 earnings with an EPS of $0.63, beating estimates by 8.62% and showing a revenue increase of $8.39 million year-over-year. Despite a miss in EPS last quarter resulting in a 1.33% share price drop, the current report reflects a positive earnings surprise.
November 27, 2023 | 11:35 am
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Ituran Location & Control reported a positive earnings surprise with an 8.62% beat on EPS estimates and a significant year-over-year revenue increase.
Positive earnings surprises, like the one reported by Ituran Location & Control, typically lead to a short-term increase in stock price as it indicates better-than-expected company performance. The year-over-year revenue growth further strengthens the positive outlook. However, past performance shows a slight drop after an earnings miss, suggesting that while the market reacts to earnings reports, the impact may be moderate.
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