Acacia Research: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Acacia Research (NASDAQ:ACTG) significantly exceeded Q4 earnings expectations with an EPS of $0.75 against an estimate of $0.07, marking a 971% beat. Revenue also saw a substantial increase, up $79.19 million from the previous year. This performance contrasts with the previous quarter where the company missed EPS estimates, leading to a 2.0% increase in share price the following day.
March 14, 2024 | 8:25 pm
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Acacia Research's Q4 earnings far exceeded expectations with a 971% beat on EPS estimates and a significant year-over-year revenue increase. This follows a previous quarter of missed EPS estimates but a subsequent share price increase.
The substantial beat on both earnings and revenue expectations for Q4 is likely to positively impact investor sentiment and Acacia Research's stock price in the short term. Historically, the company's stock price increased following an earnings miss last quarter, suggesting a strong market response to its financial performance.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100