Cipher Mining Q1 2024 Adj EPS $0.21 Beats $0.01 Estimate, Sales $48.137M Miss $50.752M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cipher Mining (NASDAQ:CIFR) reported Q1 2024 adjusted EPS of $0.21, significantly beating the $0.01 estimate, but missed sales estimates with $48.137M against the expected $50.752M. This represents a 119.85% increase in sales compared to the same period last year.
May 07, 2024 | 11:09 am
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Cipher Mining reported a significant beat on Q1 2024 EPS estimates but missed on sales forecasts, with a substantial year-over-year sales increase.
The substantial beat on the EPS estimate is likely to positively impact investor sentiment and CIFR's stock price in the short term, despite the slight miss on sales estimates. The impressive year-over-year sales growth further supports a positive outlook.
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