Everspin Expects Q2 Total Revenue Of $10M-$11M, Est $13.95M; GAAP Net Loss Per Basic Share Of $(0.14)-($0.09), Est $0.05
Portfolio Pulse from Benzinga Newsdesk
Everspin Technologies forecasts Q2 total revenue to be between $10M-$11M, below the estimated $13.95M. The company also anticipates a GAAP net loss per basic share of $(0.14)-($0.09), contrary to the expected profit of $0.05 per share.
May 01, 2024 | 8:56 pm
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Everspin Technologies, trading under the symbol MRAM, projects lower than expected Q2 revenue and a net loss per share, diverging from the anticipated profit.
Everspin's announcement of lower than expected Q2 revenue and a shift from an anticipated profit to a projected net loss per share is likely to negatively impact investor sentiment and the stock price in the short term. This deviation from analysts' expectations typically leads to a decrease in stock price as the market adjusts to the new, less favorable financial outlook.
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IMPORTANCE 90
RELEVANCE 100