Everspin Technologies Sees Q1 2024 GAAP EPS ~$0.5 Vs $0.06 Est.; Revenue $13.5M-$14.5M Vs $15.60M Est.
Portfolio Pulse from Benzinga Newsdesk
Everspin Technologies forecasts its Q1 2024 GAAP EPS to be around $0.5, significantly higher than the estimated $0.06. However, its revenue projection of $13.5M-$14.5M falls short of the expected $15.60M.
February 28, 2024 | 9:30 pm
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Everspin Technologies expects a significant increase in its Q1 2024 GAAP EPS to approximately $0.5, far exceeding the $0.06 estimate. However, its revenue forecast is below expectations at $13.5M-$14.5M, compared to the estimated $15.60M.
The significant increase in GAAP EPS forecast for Q1 2024 suggests a positive outlook on profitability, likely driving investor optimism and potentially boosting the stock price in the short term. However, the lower-than-expected revenue forecast could temper some of the positive sentiment, as it may raise concerns about growth prospects. Overall, the impact is likely positive due to the substantial beat on EPS expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100