Hut 8 Mining Q1 Sales $51.741M Miss $65.066M Estimate, Net Income $250.9M Up From $17.3M YoY
Portfolio Pulse from Benzinga Newsdesk
Hut 8 Mining (NASDAQ:HUT) reported Q1 sales of $51.741 million, missing the analyst estimate of $65.066 million by 20.48%. However, net income rose significantly to $250.9 million from $17.3 million YoY.
May 15, 2024 | 10:35 am
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Hut 8 Mining reported Q1 sales of $51.741 million, missing the analyst estimate by 20.48%. Despite this, net income saw a significant increase to $250.9 million from $17.3 million YoY.
The miss on sales estimates could negatively impact the stock price in the short term. However, the significant increase in net income may offset some of the negative sentiment, leading to a neutral overall impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100