Smith Micro Software Q1 2024 Adj EPS $(0.45) Misses $(0.24) Estimate, Sales $5.798M Beat $5.736M Estimate
Portfolio Pulse from Benzinga Newsdesk
Smith Micro Software (SMSI) reported Q1 2024 adjusted EPS of $(0.45), missing the $(0.24) estimate, with sales of $5.798M beating the $5.736M estimate. This represents an 87.5% miss on EPS estimates and a 1.08% beat on sales estimates, compared to the same period last year where losses were $(0.51) per share and sales were $10.930M.
May 08, 2024 | 9:11 pm
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Smith Micro Software reported a significant miss on EPS estimates but a slight beat on sales for Q1 2024, with a decrease in sales compared to last year.
The significant miss on the EPS estimate is likely to negatively impact investor sentiment in the short term, despite the slight beat on sales estimates. The year-over-year decrease in sales by 46.95% further exacerbates concerns about the company's revenue growth trajectory, making a negative short-term price movement more likely.
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IMPORTANCE 90
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