Socket Mobile Q1 2024 GAAP EPS $(0.07) Misses $(0.01) Estimate, Sales $4.978M Beat $4.440M Estimate
Portfolio Pulse from Benzinga Newsdesk
Socket Mobile (NASDAQ:SCKT) reported Q1 2024 GAAP EPS of $(0.07), missing the $(0.01) estimate by 600%, but saw a 41.67% decrease in losses from last year. Sales reached $4.978M, beating the $4.440M estimate by 12.12%, and marking a 15.45% increase from the previous year.
May 01, 2024 | 10:23 pm
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NEUTRAL IMPACT
Socket Mobile reported a larger than expected quarterly loss but exceeded sales forecasts, indicating mixed financial health but potential growth in revenue.
The missed EPS estimate by a significant margin could negatively impact investor sentiment in the short term, suggesting potential downward pressure on the stock price. However, the beat on sales estimates and the year-over-year growth in sales could counterbalance this by indicating underlying business strength and potential for future profitability, making the short-term impact neutral.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100