Quantum FY 2024 Adj EPS $(0.29) Misses $(0.07) Estimate, Sales $311.60M Miss $350.00M Estimate
Portfolio Pulse from Benzinga Newsdesk
Quantum (NASDAQ:QMCO) reported a significant miss in its FY 2024 adjusted EPS and sales. The company posted a quarterly loss of $(0.29) per share, far below the analyst estimate of $(0.07). Additionally, sales were $311.60 million, missing the $350.00 million estimate.
June 17, 2024 | 8:33 pm
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NEGATIVE IMPACT
Quantum reported a significant miss in both EPS and sales for FY 2024. The adjusted EPS was $(0.29), missing the $(0.07) estimate by a wide margin. Sales were also below expectations at $311.60 million compared to the $350.00 million estimate.
The significant miss in both EPS and sales is likely to negatively impact Quantum's stock price in the short term. The EPS miss by 314.29% and sales miss by 10.97% indicate weaker-than-expected financial performance, which could lead to a loss of investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100