2seventy bio Q1 Adj $(0.81), Inline, Sales $12.44M Miss $14.08M Estimate
Portfolio Pulse from Benzinga Newsdesk
2seventy bio (NASDAQ:TSVT) reported Q1 adjusted losses of $(0.81) per share, aligning with analyst estimates, but saw a 25% improvement over last year's $(1.08) per share. However, their quarterly sales of $12.44M fell short of the expected $14.08M, marking an 11.68% miss and a significant 70.12% decrease from last year's $41.62M.
May 08, 2024 | 11:08 am
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2seventy bio reported Q1 adjusted EPS of $(0.81), in line with estimates, but sales of $12.44M missed forecasts by 11.68% and saw a 70.12% decrease from the previous year.
The alignment of EPS with analyst estimates might provide some stability, but the significant miss in sales expectations and the drastic year-over-year decrease in sales are likely to negatively impact investor sentiment and the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100