Valens Semiconductor Q1 2024 Adj EPS $(0.06) Misses $(0.03) Estimate, Sales $11.559M Beat $11.071M Estimate
Portfolio Pulse from Benzinga Newsdesk
Valens Semiconductor (NYSE:VLN) reported Q1 2024 earnings with an adjusted EPS of $(0.06), missing the $(0.03) estimate, and sales of $11.559M, beating the $11.071M estimate. However, this represents a significant decrease from the previous year's performance.
May 08, 2024 | 10:05 am
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Valens Semiconductor reported a larger loss per share than expected but exceeded sales forecasts for Q1 2024, indicating mixed financial health.
The missed EPS estimate could negatively impact investor sentiment, while the sales beat might offer some offsetting positive sentiment. The significant year-over-year decrease in both EPS and sales, however, suggests underlying challenges that could temper any positive reaction to the sales beat.
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