AXT Q1 2024 GAAP EPS $(0.05) Beats $(0.09) Estimate, Sales $22.688M Beat $21.564M Estimate
Portfolio Pulse from Benzinga Newsdesk
AXT (NASDAQ:AXTI) reported Q1 2024 earnings with a smaller loss per share of $(0.05) compared to the expected $(0.09), and sales of $22.688M, surpassing the $21.564M estimate. This represents a 37.5% improvement in losses and a 16.92% increase in sales year-over-year.
May 02, 2024 | 8:48 pm
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AXT reported a smaller than expected Q1 2024 loss and higher sales, indicating a positive trend in its financial performance.
AXT's better than expected Q1 2024 earnings report, with losses per share and sales both beating analyst estimates, suggests a positive outlook for the company. This performance, especially the year-over-year improvements, could lead to increased investor confidence and potentially a positive short-term impact on AXTI's stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100