Canaan Q4 Adj EPS $(0.30) Misses $(0.19) Estimate, Sales $49.07M Beat $34.22M Estimate
Portfolio Pulse from Benzinga Newsdesk
Canaan reported Q4 adjusted EPS of $(0.30), missing the $(0.19) estimate, but sales of $49.07M exceeded the $34.22M estimate. This represents a 13.64% decrease in sales compared to last year.
February 27, 2024 | 12:50 pm
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NEUTRAL IMPACT
Canaan's Q4 earnings report showed a miss on EPS estimates but beat on sales, with a year-over-year decrease in sales.
The mixed results with an EPS miss and a sales beat could lead to neutral short-term stock price movement. The decrease in sales year-over-year might concern investors, but the sales beat could offset negative sentiment.
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