AVITA Medical: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
AVITA Medical (NASDAQ:RCEL) reported Q4 earnings with an EPS of $-0.28, beating estimates by 24.32% against an expected $-0.37. Revenue increased by $4.74 million from the same period last year. Historically, the company has shown a positive trend in beating EPS estimates, which in the past led to a 14.27% increase in share price the following day.
February 22, 2024 | 9:05 pm
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AVITA Medical reported a significant beat on Q4 earnings estimates and showed an increase in revenue, continuing its trend of surpassing EPS expectations.
Given AVITA Medical's history of beating earnings estimates and the positive correlation between past earnings beats and subsequent share price increases, it's likely that this earnings beat will have a short-term positive impact on RCEL's stock price. The reported revenue growth further supports the potential for a positive market reaction.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100