OncoCyte Q1 2024 GAAP EPS $(1.13) Misses $(0.67) Estimate, Sales $176.000K Miss $350.000K Estimate
Portfolio Pulse from Benzinga Newsdesk
OncoCyte (NASDAQ:OCX) reported Q1 2024 GAAP EPS of $(1.13), missing the $(0.67) estimate by 68.66%. Sales were $176.000K, missing the $350.000K estimate by 49.71%. This represents a 237.8% decrease in EPS and a 40.74% decrease in sales compared to the same period last year.
May 15, 2024 | 8:25 pm
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NEGATIVE IMPACT
OncoCyte reported significantly worse-than-expected Q1 2024 earnings and sales, with EPS missing estimates by 68.66% and sales missing by 49.71%. This represents a substantial decline in both earnings and sales compared to the same period last year.
The significant miss in both EPS and sales compared to analyst estimates and the substantial year-over-year decline in both metrics are likely to negatively impact OncoCyte's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100