Perficient Q1 2024 Adj. EPS $0.77, Inline, Sales $215.300M Miss $215.686M Estimate
Portfolio Pulse from Benzinga Newsdesk
Perficient (NASDAQ:PRFT) reported Q1 2024 earnings of $0.77 per share, meeting analyst estimates but marking a 25.96% decrease from the previous year. Sales were $215.3M, slightly missing estimates by 0.18% and showing a 6.96% decrease from the previous year.
May 06, 2024 | 7:09 am
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NEGATIVE IMPACT
Perficient reported Q1 2024 earnings in line with estimates but saw a significant decrease in earnings and slight sales miss compared to last year.
Meeting earnings estimates typically stabilizes stock prices, but the significant year-over-year decrease in earnings and the slight miss in sales expectations could lead to negative investor sentiment in the short term. The decrease in earnings is substantial and the sales miss, although slight, indicates a potential slowdown in growth, which could negatively impact stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100