Desktop Metal Q2 EPS $(3.13), Sales $38.93M Miss $45.90M Estimate
Portfolio Pulse from Benzinga Newsdesk
Desktop Metal (NYSE:DM) reported Q2 EPS of $(3.13), significantly missing the analyst estimate of $(0.43). Sales were $38.93M, also missing the $45.90M estimate. Both EPS and sales showed substantial declines compared to the same period last year.
July 30, 2024 | 8:56 pm
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NEGATIVE IMPACT
Desktop Metal reported a significant miss on both EPS and sales for Q2, with EPS missing by 627.91% and sales by 15.18%. Both metrics showed substantial declines compared to the same period last year.
The significant miss on both EPS and sales, combined with substantial year-over-year declines, is likely to negatively impact Desktop Metal's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100