QuickLogic Q1 2024 Adj EPS $0.12 Beats $0.06 Estimate, Sales $6.007M Miss $6.200M Estimate
Portfolio Pulse from Benzinga Newsdesk
QuickLogic (NASDAQ:QUIK) reported Q1 2024 earnings of $0.12 per share, surpassing the $0.06 estimate, marking a 400% increase from last year. However, their sales of $6.007M fell short of the $6.200M estimate, despite being a 45.34% increase from the previous year.
May 13, 2024 | 8:08 pm
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POSITIVE IMPACT
QuickLogic's Q1 2024 earnings outperformed expectations with a significant EPS increase, though sales slightly missed estimates.
The substantial beat on the EPS estimate and the significant year-over-year growth are likely to be viewed positively by investors, potentially leading to a short-term uptick in QUIK's stock price. However, the slight miss on sales estimates could temper some of the enthusiasm, but the overall positive earnings report and year-over-year sales growth suggest a stronger focus on the EPS beat.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100