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.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100