Recap: Vaxcyte Q4 Earnings
Portfolio Pulse from Benzinga Insights
Vaxcyte (NASDAQ:PCVX) reported Q4 earnings with an EPS of $-1.82, missing estimates by -70.0% compared to the expected $-1.07. Revenue remained unchanged from the same period last year. Despite missing EPS estimates last quarter, the share price increased by 4.0% the following day.
February 27, 2024 | 9:10 pm
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Vaxcyte reported a significant miss in Q4 earnings with an EPS of $-1.82, underperforming estimates by -70.0%. Revenue remained stable compared to the previous year.
The significant miss in earnings expectations is likely to negatively impact investor sentiment in the short term, especially given the magnitude of the miss (-70.0%). Historically, earnings misses can lead to a decrease in stock price, although it's noteworthy that a similar miss last quarter was followed by a 4.0% increase in share price the next day. This historical resilience might temper the negative impact, but the immediate reaction is still likely to lean negative due to the surprise factor and the size of the miss.
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