Recap: Accuray Q2 Earnings
Portfolio Pulse from Benzinga Insights
Accuray (NASDAQ:ARAY) reported Q2 earnings with an EPS of $-0.1, missing estimates by 100% compared to the expected $-0.05. Revenue decreased by $7.52 million from the same period last year. In the previous quarter, Accuray beat EPS estimates but the share price fell by 2.56% the following day.
January 31, 2024 | 9:25 pm
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NEGATIVE IMPACT
Accuray reported a significant earnings miss and a decrease in revenue compared to last year, which could negatively impact investor sentiment and the stock price in the short term.
Accuray's earnings miss by 100% is a strong negative signal, especially when coupled with a year-over-year revenue decline. Historically, the stock price dropped following an earnings beat last quarter, suggesting that the market may react even more negatively to an earnings miss. This could lead to a decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100