Cricut Q1 2024 GAAP EPS $0.09 Beats $0.05 Estimate, Sales $167.400M Miss $173.714M Estimate
Portfolio Pulse from Benzinga Newsdesk
Cricut (NASDAQ:CRCT) reported Q1 2024 earnings of $0.09 per share, surpassing the $0.05 estimate, but missed sales estimates with $167.4M against the expected $173.714M, marking a 7.63% decrease from the previous year.
May 07, 2024 | 8:08 pm
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Cricut's Q1 2024 earnings beat EPS estimates but missed on sales, with a year-on-year decrease of 7.63% in sales.
While Cricut's earnings per share exceeded expectations, the miss on sales forecasts and the year-on-year decline in sales could temper investor enthusiasm, leading to a neutral short-term impact on the stock price. The EPS beat indicates operational efficiency or cost management, which is positive, but the sales miss and decline could raise concerns about growth prospects.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100