Recap: Onto Innovation Q4 Earnings
Portfolio Pulse from Benzinga Insights
Onto Innovation (NYSE:ONTO) reported Q4 earnings with an EPS of $1.06, beating estimates by 4.95% but with a revenue decrease of $34.41 million from the previous year. The company has a history of beating EPS estimates, which previously led to a 10.14% share price increase the following day.
February 08, 2024 | 9:25 pm
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Onto Innovation reported a Q4 EPS of $1.06, surpassing estimates by 4.95%, despite a revenue decrease from last year. Past EPS beats have positively impacted share prices.
Onto Innovation's Q4 earnings beat is likely to have a positive short-term impact on its stock price, considering its history of share price increases following earnings beats. However, the decrease in revenue could temper some of the positive momentum, hence the importance is not at the maximum. The confidence level reflects the historical data provided and the typical market response to earnings beats.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100