Socket Mobile: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Socket Mobile (NASDAQ:SCKT) reported Q4 earnings with an EPS of $0.08, beating estimates by 233% against an expected -$0.06. However, revenue decreased by $771 thousand from the previous year. Despite missing EPS estimates last quarter, the share price increased by 12% the following day. The company's past earnings performance shows a mixed track record with both misses and beats on EPS and revenue estimates.
March 05, 2024 | 9:05 pm
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POSITIVE IMPACT
Socket Mobile reported a significant beat on Q4 earnings with an EPS of $0.08, far exceeding the estimated -$0.06. However, revenue saw a decline from the previous year.
The substantial beat on earnings estimates is likely to positively impact investor sentiment and potentially lead to a short-term increase in stock price, similar to the 12% rise observed after the last earnings miss. However, the decline in revenue could temper some of the enthusiasm, making the overall impact positive but with caution.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100