Accolade: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Accolade (NASDAQ:ACCD) reported Q3 earnings with an EPS of $-0.28, beating the estimate by 36.36% against an expected $-0.44. Revenue increased by $8.43 million compared to the same period last year. Despite beating EPS estimates last quarter, the share price dropped by 13.13% the following day. Historical earnings performance shows mixed results with both beats and matches on EPS estimates in previous quarters.
January 08, 2024 | 9:15 pm
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Accolade reported a strong Q3 earnings beat with an EPS of $-0.28, significantly higher than the estimated $-0.44. Revenue also increased compared to the same quarter last year. However, past performance indicates that a beat in EPS does not necessarily prevent a drop in share price the following day.
While Accolade's earnings beat is positive, the historical share price reaction to past earnings beats suggests that the market may not react positively in the short term. The 13.13% drop in share price after last quarter's earnings beat creates uncertainty about the short-term impact of this earnings report.
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