Blackbaud Q1 2024 Adj EPS $0.93 Beats $0.89 Estimate, Sales $279.300M Miss $282.418M Estimate
Portfolio Pulse from Benzinga Newsdesk
Blackbaud reported Q1 2024 adjusted EPS of $0.93, surpassing the $0.89 estimate, but its sales of $279.3M fell short of the expected $282.418M. This represents a 6.7% increase in sales compared to the same period last year.
April 30, 2024 | 8:12 pm
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Blackbaud's Q1 2024 earnings beat EPS estimates but missed on sales, showing a 6.7% increase in sales year-over-year.
The mixed results with an earnings beat but a slight miss on sales forecasts could lead to a neutral short-term impact on Blackbaud's stock price. The earnings beat is positive, but the sales miss, albeit slight, may temper investor enthusiasm. The year-over-year sales growth indicates underlying business strength, which could support the stock. However, the market's reaction may be muted due to the sales miss.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100