Ginkgo Bioworks Holdings Q1 2024 GAAP EPS $(0.08) Beats $(0.09) Estimate, Sales $38.000M Miss $46.044M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ginkgo Bioworks Holdings (NYSE:DNA) reported Q1 2024 earnings with a GAAP EPS of $(0.08), surpassing the $(0.09) estimate. However, their sales of $38M fell short of the $46.044M estimate, marking a 52.91% decrease from the previous year's $80.702M.
May 09, 2024 | 8:43 pm
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Ginkgo Bioworks Holdings reported a better-than-expected Q1 2024 EPS but missed sales estimates significantly, with a sharp year-over-year decline.
While beating EPS estimates typically has a positive impact on stock prices, the significant miss on sales estimates and the substantial year-over-year decline in sales are likely to have a more pronounced negative impact on investor sentiment and the stock price in the short term.
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IMPORTANCE 90
RELEVANCE 100