Canaan Reiterated Q2 Revenue of $70M Vs $70.2M Est and Expects Q3 Revenue of $70M Vs $91.4M Est
Portfolio Pulse from Benzinga Newsdesk
Canaan has reiterated its Q2 2024 revenue guidance of $70 million, matching estimates, but its Q3 2024 revenue guidance of $70 million falls short of the $91.4 million estimate.
May 17, 2024 | 9:25 am
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Canaan has reiterated its Q2 2024 revenue guidance of $70 million, which matches estimates. However, the company has lowered its Q3 2024 revenue guidance to $70 million, significantly below the $91.4 million estimate.
The Q2 2024 revenue guidance matching estimates is neutral news. However, the significant shortfall in Q3 2024 revenue guidance compared to estimates is likely to negatively impact the stock price in the short term.
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