Planet Labs Q3 EPS $(0.13) Misses $(0.08) Estimate, Sales $55.38M Beat $55.25M Estimate
Portfolio Pulse from Benzinga Newsdesk
Planet Labs (NYSE:PL) reported Q3 earnings with a loss per share of $(0.13), missing the $(0.08) estimate by 62.5%, but showing a 13.33% improvement from the previous year's $(0.15) loss. Sales reached $55.38M, slightly surpassing the $55.25M estimate and marking an 11.42% increase from last year's $49.70M.
December 07, 2023 | 9:29 pm
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Planet Labs reported a larger-than-expected Q3 loss per share but exceeded sales estimates with a modest increase from last year.
The missed EPS estimate is likely to negatively impact investor sentiment in the short term, despite the slight beat on revenue. Earnings misses typically result in a negative stock price reaction, especially when the miss is by a significant margin such as 62.5%.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100