Recap: Saga Communications Q4 Earnings
Portfolio Pulse from Benzinga Insights
Saga Communications (NASDAQ:SGA) reported Q4 earnings, beating estimated earnings by 19.0% with an EPS of $0.37 versus an estimate of $0.31. However, revenue was down $980 thousand from the same period last year. In the previous quarter, the company missed EPS estimates by $0.02, which was followed by a 3.0% increase in share price the next day.
March 07, 2024 | 2:05 pm
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Saga Communications reported a significant beat on Q4 earnings estimates but experienced a decrease in revenue compared to the same period last year.
The positive earnings surprise of 19% is likely to have a favorable impact on SGA's stock price in the short term, as beating earnings estimates can boost investor confidence. However, the decrease in revenue year-over-year could temper some of the positive momentum. The historical context of the stock price increasing by 3% the day after missing EPS estimates last quarter suggests that the market may react positively to earnings surprises from SGA.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100