Avid Bioservices Q4 2024 GAAP EPS $(1.94) vs $(0.04) Estimate, Sales $43.000M Beat $42.142M Estimate
Portfolio Pulse from Benzinga Newsdesk
Avid Bioservices (NASDAQ:CDMO) reported a significant quarterly loss of $(1.94) per share, missing the analyst consensus estimate of $(0.04) by a wide margin. However, the company reported quarterly sales of $43.000 million, beating the estimate of $42.142 million and showing an 8.04% increase over the same period last year.
July 02, 2024 | 8:06 pm
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Avid Bioservices reported a significant quarterly loss of $(1.94) per share, missing the analyst consensus estimate by a wide margin. However, the company reported quarterly sales of $43.000 million, beating the estimate and showing an 8.04% increase over the same period last year.
The significant miss on EPS is likely to have a negative impact on the stock price in the short term, despite the positive sales performance. Investors may focus more on the large earnings miss, which could overshadow the sales beat.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100