Sunshine Biopharma Reported FY23 Sales of $24.09M Vs $22.51M Est, EPS Loss of $(0.19) Vs $(0.16) Est
Portfolio Pulse from Benzinga Newsdesk
Sunshine Biopharma reported its FY23 sales at $24.09 million, surpassing the estimated $22.51 million. However, its EPS showed a loss of $(0.19), which was more than the estimated loss of $(0.16).
April 01, 2024 | 12:11 pm
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NEUTRAL IMPACT
Sunshine Biopharma exceeded revenue expectations for FY23 but reported a larger EPS loss than anticipated.
While exceeding revenue expectations generally has a positive impact on stock price, the larger-than-expected EPS loss could temper investor enthusiasm. The net effect might be neutral in the short term as investors weigh the positive revenue news against the negative earnings surprise.
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