Co-Diagnostics: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Co-Diagnostics (NASDAQ:CODX) reported Q4 earnings with an EPS of $-0.5, missing estimates by -150.0% and showing a revenue increase of $2.15 million from the previous year. Despite past earnings beating EPS estimates, the company's share price dropped 10.0% the day after last quarter's earnings were announced.
March 14, 2024 | 8:10 pm
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NEGATIVE IMPACT
Co-Diagnostics reported a significant miss in Q4 earnings with an EPS of $-0.5 against an estimate of $-0.2, but showed an increase in revenue from the previous year.
The significant miss in earnings estimates is likely to negatively impact investor confidence and could lead to a short-term decrease in stock price, similar to the 10% drop observed after the last quarter's earnings beat. The increase in revenue may not be sufficient to offset the negative perception of the earnings miss.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100