Revance Therapeutics Q1 2024 GAAP EPS $(0.54) Beats $(0.63) Estimate, Sales $51.936M Miss $56.634M Estimate
Portfolio Pulse from Benzinga Newsdesk
Revance Therapeutics (NASDAQ:RVNC) reported Q1 2024 earnings with a GAAP EPS of $(0.54), surpassing the $(0.63) estimate, but missed sales forecasts with $51.936M against an expected $56.634M. This represents a 5.28% increase in sales compared to the same period last year.
May 09, 2024 | 8:11 pm
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NEUTRAL IMPACT
Revance Therapeutics reported better-than-expected Q1 2024 EPS but missed on sales estimates, with a year-over-year sales increase of 5.28%.
The mixed earnings report from Revance Therapeutics, with an EPS beat but a miss on sales forecasts, presents a neutral short-term impact on its stock price. The EPS beat is positive, indicating better cost management or higher profitability than expected. However, missing sales estimates could raise concerns about growth prospects or market demand. The year-over-year sales growth is a positive sign, but the miss on expectations may temper investor enthusiasm. Therefore, the overall impact is neutral as the positive and negative aspects of the report may balance each other out in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100