Sonnet BioTherapeutics Q1 EPS $(0.31) May Not Be Comparable To $(0.90) Estimate, Sales $18.63K Beat $18.00K Estimate
Portfolio Pulse from Benzinga Newsdesk
Sonnet BioTherapeutics (NASDAQ:SONN) reported Q1 EPS of $(0.31), surpassing the $(0.90) estimate, marking a 65.56% beat and a significant improvement from last year's $(17.60) per share loss. Q1 sales reached $18.63K, slightly above the $18K estimate but represent a 50% decrease from the previous year's $37.26K.
February 14, 2024 | 1:00 pm
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POSITIVE IMPACT
Sonnet BioTherapeutics reported a significant beat on Q1 EPS estimates and a slight beat on sales, though sales have decreased 50% YOY.
The significant beat on EPS estimates and improvement from last year's losses are likely to be viewed positively by investors, potentially leading to a short-term uptick in SONN's stock price. However, the 50% decrease in sales YOY might temper some of the enthusiasm, hence the importance is not at the maximum.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100