Everspin Technologies Q1 2024 GAAP EPS $(0.01) Misses $0.03 Estimate, Sales $14.430M Beat $14.050M Estimate
Portfolio Pulse from Benzinga Newsdesk
Everspin Technologies (NASDAQ:MRAM) reported Q1 2024 GAAP EPS of $(0.01), missing the $0.03 estimate, with sales of $14.430M beating the $14.050M estimate. This represents a 125% decrease in earnings and a 2.80% decrease in sales from the same period last year.
May 01, 2024 | 8:41 pm
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NEGATIVE IMPACT
Everspin Technologies reported a significant earnings miss and a slight sales beat for Q1 2024, with a notable decrease in both earnings and sales compared to last year.
The significant miss in earnings per share (EPS) compared to estimates, coupled with a decrease in both earnings and sales from the previous year, is likely to negatively impact investor sentiment towards MRAM in the short term. The sales beat does provide a slight positive, but the overall financial performance suggests potential challenges ahead.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100