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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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.
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IMPORTANCE 75
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