Navitas Semiconductor Q1 2024 Adj EPS $(0.06) Misses $(0.05) Estimate, Sales $23.175M Beat $22.929M Estimate
Portfolio Pulse from Benzinga Newsdesk
Navitas Semiconductor (NASDAQ:NVTS) reported Q1 2024 earnings with an adjusted EPS of $(0.06), missing the $(0.05) estimate, but sales of $23.175M exceeded the $22.929M forecast. This represents a 14.29% decrease in losses per share and a 73.49% increase in sales compared to the same period last year.
May 09, 2024 | 8:23 pm
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NEUTRAL IMPACT
Navitas Semiconductor's Q1 2024 earnings report showed a slight miss on EPS estimates but a beat on sales forecasts, indicating strong revenue growth.
While the miss on EPS estimates might concern some investors, the significant beat on sales forecasts and the substantial year-over-year sales growth could offset concerns and suggest a positive outlook for the company's revenue growth trajectory. However, the impact on the stock price could be mixed in the short term due to the EPS miss.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100