Vir Biotechnology Q1 2024 GAAP EPS $(0.48) Beats $(1.07) Estimate, Sales $56.400M Beat $11.712M Estimate
Portfolio Pulse from Benzinga Newsdesk
Vir Biotechnology reported Q1 2024 earnings with a GAAP EPS of $(0.48), surpassing the $(1.07) estimate, and sales of $56.400M, exceeding the $11.712M estimate. This represents a 10.42% decrease in sales from the same period last year.
May 02, 2024 | 8:10 pm
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POSITIVE IMPACT
Vir Biotechnology's Q1 2024 earnings outperformed analyst expectations with a smaller loss per share and significantly higher sales than anticipated.
Beating both EPS and sales estimates significantly, especially by such a large margin in sales, typically results in a positive short-term impact on the stock price. The decrease in sales YoY is a concern, but the substantial beat on expectations may overshadow this in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100