Accuray Q2 EPS $(0.10) Misses $(0.05) Estimate, Sales $107.24M Beat $106.67M Estimate
Portfolio Pulse from mahesh@benzinga.com
Accuray Incorporated (NASDAQ:ARAY) reported a larger than expected quarterly loss of $(0.10) per share, missing the consensus estimate of $(0.05) by 100%. This represents a significant decline from the $(0.02) per share loss in the same quarter last year. However, the company's quarterly sales of $107.24 million slightly exceeded expectations of $106.67 million, but still marked a 6.55% decrease from the previous year's sales of $114.76 million.

January 31, 2024 | 9:23 pm
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Accuray's Q2 earnings report showed a larger loss per share than analysts expected and a year-over-year decline in sales, although it marginally beat the sales estimates.
The reported earnings miss and year-over-year decline in sales are likely to negatively impact investor sentiment in the short term. Despite the slight beat on revenue estimates, the significant miss on earnings and the decrease in sales compared to last year could lead to bearish views on the stock. The importance is high as earnings reports are critical for investors, but not at the maximum because the sales beat provides a slightly mitigating factor. The confidence level is high due to the clear-cut nature of earnings reports typically having a direct impact on stock performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100