BIT Mining Q4 2023 Adj EPS $(0.39), Sales $10.40M
Portfolio Pulse from Benzinga Newsdesk
BIT Mining (NYSE:BTCM) reported a Q4 2023 adjusted EPS of $(0.39) and sales of $10.40M, missing the analyst consensus estimate of $77.30M by 86.55%. This represents an 82.96% decrease in sales compared to the same period last year.
February 23, 2024 | 9:45 pm
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NEGATIVE IMPACT
BIT Mining reported significant misses in both EPS and sales for Q4 2023, with sales falling 82.96% YOY and missing estimates by 86.55%.
The significant miss in both earnings per share and sales, coupled with a drastic year-over-year decrease in sales, is likely to negatively impact investor sentiment and the stock price of BIT Mining in the short term. The magnitude of the miss compared to analyst expectations suggests potential underlying issues that could concern investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100